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Favourable Medium-term Economic Outlook in Europe

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  • Oscar-Erich Kuntze

Abstract

At the spring conference of the Association d'Instituts Européens de Conjoncture Economique (AIECE), the Ifo Institute presented a report on anticipated economic developments in Europe from 2000 to 2004. The forecast, based on the prognoses of the individual AIECE members, sets growth in real GDP in the EU at 2.8% per annum. This is 0.6 percentage points more than was achieved, on average, from 1995 to 1999. The forecasts of the individual institutes show only slight deviations from mean EU growth, and the weighted average of national GDP projections results in nearly the same figure (2.7%). The EU accession candidates in Eastern Europe expect a continuation of the catching-up process vis-à-vis Western Europe: they see GDP growing at a 4.5% pace per annum. The EU unemployment rate, according to the institutes, could fall to 7.8%, on average, for the years 2000 to 2004, but with significant differences from country to country. For almost all countries, the increase in consumer prices should be less than 2%.

Suggested Citation

  • Oscar-Erich Kuntze, 2000. "Favourable Medium-term Economic Outlook in Europe," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 53(15), pages 15-20, May.
    • Handle: RePEc:ces:ifosdt:v:53:y:2000:i:15:p:15-20
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    More about this item

    JEL classification:

    • O10 - Economic Development, Innovation, Technological Change, and Growth - - Economic Development - - - General
    • O52 - Economic Development, Innovation, Technological Change, and Growth - - Economywide Country Studies - - - Europe

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