Fiscal Balance in Eurozone

Eurozone Fiscal Balance | Economic News & Forecasts

Eurozone - Fiscal Balance

Momentum remained subdued in the first quarter. Industrial production was weak in the period, weighed down by soaring commodity prices and supply constraints. The services sector suffered from surging inflation and souring consumer sentiment. More positively, the unemployment rate continued to fall throughout the quarter amid easing Covid-19 restrictions, pointing to healthy labor market dynamics. Moving to Q2, robust PMI readings in April-May suggest solid activity, but pessimistic consumer sentiment and elevated inflation could be hitting household spending. Meanwhile, in late May, the European Commission extended the suspension of budgetary rules for member states until 2023. However, it also warned several countries against public accounts imbalances, and recommended fiscal prudence given heightened economic uncertainty. Lastly, a new taskforce was created to speed up energy diversification away from Russia.

Eurozone - Fiscal Balance Data

2015   2016   2017   2018   2019  
Fiscal Balance (% of GDP)-2.0  -1.5  -1.0  -0.5  -0.6  

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Eurozone Facts

Value Change Date
Exchange Rate1.120.65 %Dec 31

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