Economic Forecasts, Autumn 2005 – 2007: growth picks up

Economic activity is set to grow 1.5% in the European Union in 2005 before rebounding to potential in 2006 at 2.1% and to accelerate further to 2.4% in 2007. The corresponding figures for the euro area are 1.3%, 1.9% and 2.1%. The main impulse stems from domestic demand, in particular private investment, triggered by a marked recovery in economic sentiment since mid 2005. The EU is expected to create six million new jobs in the three-year period, helping reduce unemployment from a peak of 9.0% at the end of 2004 to 8.7% in 2005 and 8.1% in 2007. EU inflation will increase slightly to 2.3% this year due to oil prices before coming back to 1.9% in 2007.

The statistical annex of European Economy contains the main body of macroeconomic data underlying two annual publications in the series "European Economy" of the Directorate General for Economic and Financial Affairs. Tables are derived from AMECO, the macroeconomic working database of the Directorate General. They include long historical series and the Directorate's forecasts for EU Member States, the candidate countries (Bulgaria, Romania, Turkey and Croatia), USA and Japan

The data coverage includes: Population, Labour market, Output, National final uses, Prices, Wage costs,
Foreign trade and current balance, Saving, Monetary indicators, and Public finance.

• Primary Source

European Commission: DG Economic and Financial Affairs: The statistical annex. Autumn 2005 http://ec.europa.eu/comm/economy_finance/publications/european_economy/2005/statannex0205_en.pdf

http://ec.europa.eu/comm/economy_finance/indicators/annual_macro_economic_database/ameco_en.htm http://ec.europa.eu/comm/economy_finance/indicators/annual_macro_economic_database/ameco_en.htm

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