Real GDP raise probably at +2.2% (+2,3% respectively) which is substantially higher than the +1.7% (+1.9% respectively) expected in the spring projection
The euro area economy is on track to grow at its fastest pace in a decade this year, with real GDP growth forecast at +2.2% for this year. This is substantially higher than expected in spring (+1.7%). The EU economy as a whole is also set to beat expectations with robust growth of +2.3% this year (up from +1.9% in spring), according to the Autumn Forecast of the European Commission.
For the coming years, the Commission expects growth to continue in both the euro area and in the EU at +2.1% in 2018 and at +1.9% in 2019 (Spring Forecast: 2018: +1.8% in the euro area, +1.9% in the EU).
The European economy has performed significantly better than expected this year, propelled by resilient private consumption, stronger growth around the world, and falling unemployment.
Investment is also picking up amid favourable financing conditions and considerably brightened economic sentiment as uncertainty has faded. The economies of all Member States are expanding and their labour markets improving, but wages are rising only slowly.
(10.11.2017, USA: 11.10.2017)