economic forecasts

EU economic forecasts and figures November 2008

EC: AUTUMN ECONOMIC FORECAST

The European Commission’s autumn economic forecast indicates that GDP growth across the European Union will slow to 0.2% next year and the unemployment rate rise by 0.8%. However, EU consumer price inflation will fall from 3.9% to 2.4%. In 2010, GDP is expected to rise by 1.1%, although unemployment will continue to worsen due to improvements in labour productivity.

In Germany, Europe’s largest national economy, no growth is forecast for 2009, although the unemployment rate is expected to remain fairly stable and average earnings are expected to rise from 2.5% to 3.1% this year.

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