Economic Growth Forecasts Get Slashed Down in Europe
Skerdian Meta • 1 min read
The European commission released its economic forecasts for 2019 and 2020 a while ago. The GDP growth is slashed down as you would expect after months of really weak economic data that we have seen from the Eurozone towards the end of 2018 and so far in 2019. Let’s see the GDP outlook from the EU for these two years.
- Eurozone 2019 GDP growth seen at 1.3% (previously 1.9%)
- Eurozone 2020 GDP growth seen at 1.6% (previously 1.7%)
- Eurozone 2019 inflation seen at 1.4% (previously 1.8%)
- Italy 2019 GDP growth seen at 0.2% (previously 1.2%)
- Italy 2020 GDP growth seen at 0.8% (previously 1.3%)
- Q1 GDP growth in Italy expected 0.0% q/q
- German 2019 GDP growth seen at 1.1% (previously 1.8%)
- German 2020 GDP growth seen at 1.7% (unchanged)
- France 2019 GDP growth seen at 1.3% (previously 1.6%)
- France 2020 GDP growth seen at 1.5% (previously 1.6%)
Yep, as you can see, all the newly revised figures are in red which means that the economic growth is expected to be weaker than previously estimated. Italy is at the worst position of the major economies, while growth for this year in Germany is revised much lower as well.
Well, the US tariffs on the European cars haven’t been introduced yet and they’re expected to come, so things will likely get worse before getting better. The new revisions might get revised even lower yet in the coming months, so keep an eye on the data. This is all bad news for the Euro which continues to slide lower without any sign of pulling back up.