European Commission lifts Eurozone 2021 GDP forecast from 3.8% to 4.3%
|Presenting the European economic forecast for Spring 2021, Eric Manner, EU Commission’s Chief Spokesman, said that “after a long winter, the Spring #ECforecast shows positive news on the growth outlook.”
Key takeaways
“Eurozone 2021 GDP growth forecast raised to 4.3% from 3.8% previously.”
“Eurozone 2022 GDP growth forecast raised to 4.4% from 3.8% previously.”
“Eurozone 2021 inflation seen at 1.7%.”
“Eurozone 2022 inflation seen at 1.3%.”
“Euro area economic output to reach pre-virus levels in Q4, sooner than expected.”
“Sees all EU economies returning to pre-virus GDP by the end of 2022.”
“Upward revisions mainly due to national recovery plans. “
“Risks to the outlook remain high, broadly balanced.”
EUR/USD reaction
EUR/USD whipsawed on the EU’s upward revision to the growth forecast but kept its recovery mode intact around 1.2135, where it now wavers.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.