Eurozone Economic Forecast

Eurozone Economic Outlook

February 27, 2018

Preliminary estimates revealed that the Eurozone continued to grow robustly in the fourth quarter of 2017, rounding out the best year of growth in over a decade. Although a breakdown by components is not yet available, growth was likely broad-based, aided by a tightening labor market, high sentiment, supportive monetary policy and a bright global backdrop. Leading indicators for Q1 suggest the economy remains in good health, although growth likely slowed slightly. Economic sentiment waned somewhat in January and the composite PMI fell in February, even though both indicators recorded historically high results. Meanwhile, EU leaders met on 23 February, opening the debate on the next seven-year EU budget set to begin in 2021. Eastern members of the union are calling on wealthier states to plug the gap that will be left by Britain’s departure, but there is disagreement among members on how to proceed. The European Commission will present a detailed proposal in May; long and complex negotiations are expected to ensue.

Eurozone Economic Growth

A strong finish to 2017 and solid start to 2018 helped fuel an upgrade to the Eurozone’s GDP forecast this month. A buoyant global backdrop and robust domestic economy should keep growth strong this year. FocusEconomics analysts now project that GDP will expand 2.3% in 2018, which is up 0.1 percentage points from last month’s forecast. In 2019, GDP is forecast to grow 1.9%.

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Eurozone Facts

Exchange Rate1.230.65 %Mar 15
Stock Market1,192-0.52 %Mar 15

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