European Economic Forecast. Autumn 2021

Author (Corporate)
Publisher
Series Title
Series Details Number 160
Publication Date November 2021
ISBN 978-92-76-29731-4
ISSN 2443-8014
EC KC-BC-21-017-EN-N
Content Type ,

Summary:

The European Commission published on 11 November 2021 its Autumn economic forecast for the European Union (EU) and the Eurozone.

Further information:

The Autumn 2021 Economic Forecast projects that, despite mounting headwinds, the EU economy is projected to keep expanding over the forecast horizon. Most Member States are expected to reach the pre-pandemic volume of output by the end of 2021, while a few others will fully recover in 2022.

The EU economy is projected to keep expanding over the forecast horizon, achieving a growth rate of 5%, 4.3% and 2.5% in 2021, 2022 and 2023 respectively. Growth rates for the euro area are projected to be identical to those for the EU in 2021 and 2022, and 2.4% in 2023. This outlook depends heavily on two factors: the evolution of the COVID-19 pandemic and the pace at which supply adjusts to the rapid turnaround in demand following the re-opening of the economy.

Source Link Link to Main Source https://ec.europa.eu/info/publications/european-economic-forecast-autumn-2021_en
Alternative sources
  • https://ec.europa.eu/info/sites/default/files/economy-finance/ip160_en_0.pdf
  • https://doi.org/10.2765/199989
Related Links
Official
European Commission: Autumn 2021 Economic Forecast: From recovery to expansion, amid headwinds https://ec.europa.eu/info/business-economy-euro/economic-performance-and-forecasts/economic-forecasts/autumn-2021-economic-forecast_en
European Commission: Press Release, 11/11/2021: Autumn 2021 Economic Forecast: From recovery to expansion, amid headwinds https://ec.europa.eu/commission/presscorner/detail/en/ip_21_5883
European Commission: Remarks by Commissioner Gentiloni at the press conference on the Autumn 2021 Economic Forecast (11 November 2021) https://ec.europa.eu/commission/presscorner/detail/en/speech_21_5944

News
Reuters, 11/11/2021: EU Commission raises 2021 euro zone growth forecast, sees strong 2022 https://www.reuters.com/world/europe/eu-commission-raises-2021-euro-zone-growth-forecast-sees-strong-2022-2021-11-11/
The Irish Times, 11/11/2021: European Commission doubles growth forecast for Irish economy https://www.irishtimes.com/business/economy/european-commission-doubles-growth-forecast-for-irish-economy-1.4725846
EurActiv, 11/11/2021: EU Commission raises 2021 growth forecast, sees strong 2022 https://www.euractiv.com/section/economy-jobs/news/eu-commission-raises-2021-growth-forecast-sees-strong-2022/
YLE News, 11/11/2021: European Commission upgrades forecast for Finnish economy https://yle.fi/news/3-12184532
Politico, 11/11/2021: Commission lifts 2021 growth outlook but warns of headwinds https://www.politico.eu/article/commission-lifts-2021-growth-outlook-but-warns-of-headwinds/
El País, 11/11/2021: Brussels slashes Spain’s growth forecast, projecting slower recovery than EU neighbors https://english.elpais.com/economy-and-business/2021-11-11/brussels-slashes-spains-growth-forecast-projecting-slower-recovery-than-eu-neighbors.html
Emerging Europe, 11/11/2021: Europe’s economy is recovering faster than expected; Estonia leads CEE in growth forecasts https://emerging-europe.com/news/europes-economy-is-recovering-faster-than-expected-estonia-leads-cee-in-growth-forecasts/
VOA News, 11/11/2021: Brussels Cuts Growth Forecast as Spanish Economy Lags Behind Neighbors https://www.voanews.com/a/brussels-cuts-growth-forecast-as-spanish-economy-lags-behind-neighbors/6309347.html
ECO News (Portugal), 11/11/2021: European Commission sees 2022 deficit at 4.5% of GDP, debt 128.1% https://econews.pt/2021/11/11/european-commission-sees-2022-deficit-at-4-5-of-gdp-debt-128-1/
ERR News, 11/11/2021: European Commission forecasts 9 percent economic growth for Estonia in 2021 https://news.err.ee/1608399242/european-commission-forecasts-9-percent-economic-growth-for-estonia-in-2021
Radio Prague International, 11/11/2021: EC lowers Czech economic growth estimate for 2021 to 3 percent https://english.radio.cz/ec-lowers-czech-economic-growth-estimate-2021-3-percent-8733752
Kathimerini, 12/11/2021: Brussels sees Greek growth at 7.1% this year https://www.ekathimerini.com/economy/1171637/brussels-sees-greek-growth-at-7-1-this-year/

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