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Economists Cut Euro Zone Growth Forecast For 2021: ECB Survey

Economists Cut Euro Zone Growth Forecast For 2021: ECB Survey

The pandemic-stricken euro zone economy is likely to rebound this year but at a slower pace than expected only a few months ago, before making up for the lost ground in 2022, a European Central Bank survey showed on Friday.

 

Economists polled in the ECB’s quarterly Survey of Professional Forecasters put real GDP growth in the euro zone at 4.4% this year, down from 5.3% in the previous edition of the survey.

 

As for next year, the survey showed the economy was now expected to expand by 3.7%, compared to 2.6% in the October poll.

 

A summary of the forecasts can be found in the table below:

 

2021 2022 2023 LONG-TERM

GDP growth 4.4% 3.7% 1.9% 1.4%

 

HICP infl. 0.9% 1.3% 1.5% 1.7%

 

Source: Reuters

 

 

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