European economic forecast – Spring 2013

Grappling with the aftermath of a profound financial and economic crisis, the EU economy was set to pick up speed only very slowly in the course of 2013. Economic activity in the EU was forecast to stabilise in the first half of 2013. After having turned positive in the second half of 2013, real GDP growth was projected to gain traction in 2014 as investment and consumption were set to take over as the main growth engine. But domestic demand was expected to remain constrained by a number of growth impediments commonly associated with balance-sheet recessions after deep financial crises