Tuesday, October 3, 2023

Commission predicts eurozone economy will shrink less than previously predicted


The euro area economy is expected to grow by 1.1 percent this year.

According to a forecast by the European Union Commission, the euro area economy will freeze less than the Commission had previously estimated.

The euro area economy is forecast to grow by 1.1 per cent this year, compared with 0.9 per cent in the Commission’s previous forecast.

Inflation in the euro area is also expected to be higher than earlier. The inflation rate this year is now expected to be 5.8 per cent, while earlier the inflation rate was expected to be 5.6 per cent.

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