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The economic evolution in the European Union and Eurozone

Author

Listed:
  • Cornel Albu
  • Alexandru Tănase

Abstract

The "European Economic Forecast - Spring 2016” Report the economic growth rates across the EU and euro zone for 2015 are adjusted slightly" up ", by 0.2 percentage points in the context of a favorable new economic and financial climate registered in the second half of the year. Current forecast for 2016 economic growth were revised but "down" 0.3 percentage points for both areas in the context of uncertain recovery in domestic and external demand, in the first year. The new forecasts for 2017 show a slight revival of economic growth rates being advanced by 0.1 percentage points (EU) and 0.2 percentage points (Euro zone) higher than the ones in 2016. The inflation rate in the EU and Euro zone stood at "0" in 2015. The report forecasts estimate that the deflation will continue in 2016, the figures being 0.3% for the whole EU-28 and 0.2% for the Euro zone, with a possible exit from this stage of deflation in 2017. In 2015, EUROSTAT data reveals an unemployment rate of 9.4% for the EU-28 (10.2% in 2014) and 10.9% for the Euro zone (11.6% in 2014). For 2016 and 2017, the European Commission experts predict further cuts in the unemployment rate across the EU and Eurozone, which will "descend" to the end of that interval below 9% and, respectively below 10%.

Suggested Citation

  • Cornel Albu & Alexandru Tănase, 2016. "The economic evolution in the European Union and Eurozone," Conjunctura economiei mondiale / World Economic Studies, Institute for World Economy, Romanian Academy, pages 7-11.
    • Handle: RePEc:iem:conjun:y:2016:p:7-11
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