European Central Bank, (2015), “Eurosystem Staff Macroeconomic Projections for the Euro Area”, ECB Macroeconomic Projections, December
The economic recovery in the euro area is expected to continue. Real GDP is projected to increase by 1.5% in 2015, 1.7% in 2016 and 1.9% in 2017. The overall outlook is broadly unchanged compared with the previous exercise, but the outlook for domestic demand is stronger, while that for foreign demand is weaker. Inflation is expected to rise over the projection horizon, to 1.6% in 2017. The inflation outlook has been revised down slightly, mainly reflecting lower oil prices.
Relevant Posts
- Darvas, Zsolt, (2016), “Has ECB QE lifted inflation?”, Bruegel Blog, 13 January.
- Gros, Daniel, (2015), “Countries under Adjustment Programmes: What role for the ECB?”, CEPS, 10 December.