Among the major eurozone economies, the Community Executive projects GDP growth of 1.1% in 2024 and 0.7% for Italy, while for Germany it calculates a decline in gross domestic product of 0.1%.
Last Friday, the European Commission maintained its forecast for eurozone gross domestic product (GDP) growth at 0.8% during 2024, but it has reduced that of the European Union (EU) by a tenth to 0.9%.
The Community Council’s autumn macroeconomic forecasts published today also assume that eurozone GDP will increase by 1.3% in the coming years. 2025 and 1.6% in 2026, while that of the Twenty-Seven will increase by 1.5% next year and 1.8% in 2026.
In the EC’s previous forecasts, published in May, the European Commission expected economic growth in the eurozone to reach 0.8% this year and 1.4% next year, while predicting an increase for the community club as a whole of GDP of 1% in 2024 and 2024 estimated. 1.6% in 2025.
Under the major economies of the Eurozone, Spain (3%) will lead GDP growth in 2024, followed by France (1.1%) and Italy (0.7%), while Germany gross domestic product will decline by 0.1%. In 2025, Spain (2.3%) will continue to lead these four countries, ahead of Italy (1%), France (0.8%) and Germany (0.7%).
With regard to the economic risksthe European Commission reports the floods caused by DANA, which have killed at least 216 people, and warns that “the EU is increasingly exposed to environmental risks”.
On the other hand, it is also expected that the inflation the overall EU figure will fall to 2.6% in 2024, one tenth less than in the previous forecast, and to 2.4% in 2025, two tenths above what was expected, while in the eurozone a decline is expected to 2.4% in 2025. 2024, a tenth lower than the May forecast, while maintaining the 2.1% figure in 2025.
Source: EITB
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
