ECB is raising its GDP growth forecast for the euro area for 2021

The European Central Bank (ECB) raised its GDP growth forecast for the euro area in 2021 to 5 percent from 4.6 percent expected in June this year, and lowered the forecast for 2022 to 4.6 percent from 4.7 percent, ECB President Christine Lagarde said. In 2023, the ECB expects 2.1 percent of GDP growth (unchanged from June).

“We expect a strong recovery in the economy in the medium term. Our new personnel forecasts project annual real GDP growth of 5 percent in 2021, 4.6 percent in 2022, and 2.1 percent in 2023. Compared to our June employee forecast, the outlook has improved for 202 and has not changed substantially for 2022 and 2023,” Lagarde said.

The ECB currently expects annual HICP inflation in the euro area at 2.2 percent in 2021, 1.7 percent in 2022, and 1.5 percent in 2023, Lagarde said. In June, the following were expected: 1.9 percent in 2021, 1.5 percent in 2022, and 1.4 percent in 2023.

(inwestycje.pl)