ECB Survey: Eurozone GDP seen contracting by 5.5% in 2020

Dhwani Mehta FXStreet

The European Central Bank (ECB) released the results of its latest survey of professional forecasters, with the key highlights found below

Sees 2020 GDP growth at -5.5% (previous f'cast: +1.1%), inflation at 0.4% (previous: 1.2%).

Sees 2021 GDP growth at 4.3% (previous: 1.2%), inflation at 1.2% (previous: 1.4%).

Sees 2024 GDP growth at 1.4%, inflation at 1.7%, both unchanged vs Q1 projection.

Sees 2020 unemployment at 9.4% vs previous forecast for 7.5%.

Sees normality after COVID-19 lockdown will probably not be reached until the third quarter.

Sees the most appropriate description for the forecast profile of the overall GDP levels probably a ‘tick-mark’.

EUR/USD drops to daily lows near 1.0920, Sentix bounces

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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