Commission spring economic forecasts 2006-2007: growth rebounds / Economic forecasts Spring 2006

Author (Corporate)
Series Title
Series Details No.2, 2006
Publication Date May 2006
ISBN 92-79-01232-0
ISSN 0379-0991
EC KC-AR-06-002-EN-C
Content Type

Economic growth is projected to rebound in 2006 to 2.3% in the European Union and to 2.1% in the euro area, up from 1.6% and 1.3% in 2005, according to the Commission’s spring economic forecasts. The main impulses stem from a robust increase in investment, continued strong world growth and an improved outlook in Germany.

Growth is expected to edge slightly lower in 2007 to 2.2% in the EU and 1.8% in the euro area. The EU as a whole is expected to create 3 ? million new jobs over the period 2006-07, after nearly 3 million in the previous two years. This will help reduce unemployment from a peak of more than 9% in 2004 to an expected 8.2% in 2007 in the EU. Inflation remains remarkably stable at slightly above 2% despite soaring oil prices, which remain the main risk to economic growth.

Source Link Link to Main Source https://ec.europa.eu/economy_finance/publications/pages/publication_summary7943_en.htm
Related Links
European Commission: DG Economic and Financial Affairs: European economy: Statistical Annex to European Economy, Spring 2006 http://ec.europa.eu/comm/economy_finance/publications/european_economy/2006/statannex0106_en.pdf
BBC News, 8.5.06: EU lifts eurozone growth estimate http://news.bbc.co.uk/1/hi/business/4750713.stm

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