Press Release: 2014 Autumn Economic forecast: Slow recovery with very low inflation

On 4 November 2014 the European Commission issued its Autumn 2014 economic forecast for 2015 and 2016.

The European Commission's autumn forecast projected weak economic growth for the rest of 2014 in both the EU and the euro area. Real GDP growth was expected to reach 1.3% in the EU and 0.8% in the euro area for 2014 as a whole. Growth was expected to rise slowly in the course of 2015, to 1.5% and 1.1% respectively, on the back of improving foreign and domestic demand. An acceleration of economic activity to 2.0% and 1.7% respectively in 2016 was expected to be driven by the strengthening of the financial sector (following the comprehensive assessment by the European Central Bank and further progress towards the Banking Union), as well as recent structural reforms starting to bear fruit.

• Primary Source

European Commission: DG Economic and Financial Affairs: EU economic situation: Economic forecasts http://ec.europa.eu/economy_finance/eu/forecasts/2014_autumn_forecast_en.htm

European Commission: RAPID: SPEECH/14/1380: 2014 AUTUMN FORECAST PRESS SPEAKING POINTS - Slow growth amidst very low inflation http://europa.eu/rapid/press-release_SPEECH-14-1380_en.htm

EUObserver, 04.11.14: EU projects dismal growth, urges investment http://euobserver.com/economic/126370

EurActiv, 04.11.14: France seen as weakest eurozone economic performer http://www.euractiv.com/sections/euro-finance/france-seen-weakest-euro-zone-economic-performer-309743

BBC News, 04.11.14: Eurozone economic forecast cut by European Commission http://www.bbc.co.uk/news/business-29893205

EurActiv, 04.11.14: Commission forecasts small reduction in unemployment http://www.euractiv.com/sections/social-europe-jobs/commission-forecasts-small-reduction-unemployment-309745

Euro|Topics: Main Focus, 05.11.14: Gloomy growth forecast for Eurozone http://www.eurotopics.net/en/home/presseschau/archiv/archiv_dossier/DOSSIER153166-Gloomy-growth-forecast-for-Eurozone

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