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Economy: EU Forecast. Global trade slows down, EU GDP revised down

Bruxelles, 7 febbraio: la conferenza stampa del commissario Moscovici

(Brussels) Solid economic fundamentals; general slowdown in the GDP against a weaker international backdrop; employment on the rise; and falling inflation – these are some macroeconomic trends emerging from the Commission’s Forecast. The EU economy “is expected to grow for the seventh year in a row in 2019, with expansion forecast in every Member State”, says the report presented by Commissioner Pierre Moscovici in the press room of the Berlaymont, the headquarters of the European Commission. The EU28 GDP is forecast at 1.5% in 2019 and 1.7% in 2020, while the euro area GDP is forecast at 1.3% in 2019 and 1.6% in 2020. However, there are evident, substantial differences between Member States. “The pace of growth overall is projected to moderate compared to the high rates of recent years and the outlook is subject to large uncertainty”. The economic activity “moderated in the second half of last year as global trade growth slowed, uncertainty sapped confidence, and output in some Member States was adversely affected by temporary domestic factors, such as disruptions in car production, social tensions and fiscal policy uncertainty”.

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