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Spring 2018 Economic Forecast: highest growth rate in 10 years

May 3, 2018 | News

(03 May 2018) – The Spring 2018 Economic Forecast published today shows that growth rates for the EU and the euro area beat expectations in 2017 to reach a 10-year high at 2.4%.

Moscovici
© EUobserver

Growth is set to remain strong in 2018 and ease only slightly in 2019, with growth of 2.3% and 2.0% respectively in both the EU and the euro area.

Private consumption remains strong, while exports and investment have increased. Unemployment continues to fall and is now around pre-crisis levels. However, the economy is more exposed to external risk factors, which have strengthened and become more negative.

Robust growth is facilitating a further reduction in government deficit and debt levels and an improvement in labour market conditions. The aggregate deficit for the euro area is now less than 1% of GDP and is forecast to fall under 3% in all euro area Member States this year.

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