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Eurosystem staff macroeconomic projections for the euro area

European Central Bank, (2017), “Eurosystem staff macroeconomic projections for the euro area”, Δεκέμβριος 2017

The economic expansion in the euro area is projected to remain robust, with growth stronger than previously expected and significantly above potential. Real GDP growth is projected to slow gradually, from 2.4% in 2017 to 1.7% in 2020, as the effects of a number of factors supporting growth slowly fade away. HICP inflation is expected to be broadly stable in the coming quarters before picking up to 1.7% in 2020, supported by rising underlying inflation as capacity constraints become more binding. HICP inflation is revised up somewhat in the short term owing to higher oil and food prices.

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