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- EU Commission bumps up 2023 Eurozone GDP and inflation forecasts
EU Commission bumps up 2023 Eurozone GDP and inflation forecasts
In its quarterly publication released on Monday, the European Commission revised upwards its projections for Eurozone’s economic growth and inflation this year.
Additional takeaways
Forecasts 2023 Eurozone GDP growth at 1.1%, up from 0.9% forecast in Feb, sees growth in 2024 at 1.6%, up from the previous 1.5%.
Forecasts 2023 Eurozone inflation at 5.8%, up from 5.6% forecast in Feb, sees inflation in 2024 at 2.8%, up from the previous 2.5%.
Forecasts 2023 Unemployment steady at 6.8% of the workforce, falling to 6.7% in 2024.
Forecasts 2023 Eurozone aggregated budget deficit to shrink to 3.2%/GDP in 2023, 2.4% GDP in 2024 from 3.6% in 2022.
Forecasts 2023 Eurozone public debt to fall to 90.8% of GDP in 2023 and 89.9% in 2024 from 93.1% in 2022.
Market reaction
The quarterly forecasts add to the ongoing upbeat momentum in the Euro, as EUR/USD continues to challenge intraday highs near 1.0880, up 0.25% on the day.
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