In the second quarter of 2023, economic growth in the euro area was modest, amid a positive contribution from domestic demand and stockpiling and a negative contribution from net exports. According to ECB projections, GDP growth will stagnate in the third quarter of 2023 and remain modest in the fourth quarter, as activity in the manufacturing sector remains low, and the one in the service sector is expected to slow down.
Revised Forecasts: EU and Eurozone Economic Growth Slows, Romania Maintains Moderate Advance
In its spring forecast, the European Commission estimates a real GDP growth of 1.1% for the European Union and 0.9% for the euro area in 2025, significantly lower than the figures projected in the autumn of 2024. This downward revision is mainly driven by the effects...
