The ECB lowers its forecast of euro area GDP growth for 2022
21:58
The European Central Bank announced that it is lowering its GDP growth forecast for the euro area by 0.5 percentage points. The forecast of 4.2 percent expected in December 2021 was therefore lowered to 3.7 percent. The bank also lowered the forecast for 2023 to 2.8 percent from 2.9 percent, said ECB President Christine Lagarde. For 2024, the ECB expects 1.6 percent of GDP growth (unchanged compared to December).
The ECB currently expects annual HICP inflation in the euro area at 5.1 percent in 2022, 2.1 percent in 2023, and 1.9 percent in 2024, Lagarde reported. In December, it was expected: 3.2 percent. 1.8 percent, and 1.8 percent, respectively.
