FOREX TradingCharts.com

Financial News: EU Cuts Eurozone 2021 GDP Growth Outlook

EU Cuts Eurozone 2021 GDP Growth Outlook

02/11/2021 - 05:18:00 (RTTNews)

(RTTNews) - The near-term outlook for the euro area looks weaker than expected last autumn, as the pandemic tightened its grip on the region, the European Commission said in its interim Winter forecast, released Thursday.

The currency bloc is forecast to grow 3.8 percent this year, instead of 4.2 percent projected previously. Meanwhile, the outlook for 2022 was raised to 3.8 percent from 3 percent.

The European economy started the New Year on a weak footing, the EU noted.

Nonetheless, the breakthrough development of vaccines in the autumn and the start of mass vaccination campaigns brightened the outlook beyond the near term. Inflation in the euro area is expected to be slightly higher in 2021 compared to last autumn, but to remain subdued despite a temporary boost from base effects, EU said.

Inflation is seen at 1.4 percent in 2021, up from the prior forecast of 1.1 percent. The projection for 2022 was retained at 1.3 percent.

For comments and feedback: contact editorial@rttnews.com

Copyright(c) 2021 RTTNews.com. All Rights Reserved

Market News provided by RTTNews

RECENT INTERNATIONAL FINANCIAL NEWS


Russia Services Growth Slows In February (15 min(s), 05 sec(s) ago)
(RTTNews) - Russia's service sector expansion slowed slightly in February, survey results from ...Full Story»

Swiss Consumer Prices Continue To Decline (19 min(s), 05 sec(s) ago)
(RTTNews) - Switzerland's consumer prices continued to decline in February, data from the Fede ...Full Story»

Turkey Consumer Price Inflation, Producer Prices Rise In February (01 hr(s), 01 min(s), 05 sec(s) ago)
(RTTNews) - Turkey's consumer price inflation and producer prices increased in February, figur ...Full Story»

Saudi Arabia Non-Oil Private Sector Growth Slows In February (01 hr(s), 24 min(s), 05 sec(s) ago)
(RTTNews) - Saudi Arabia's non-oil private sector grew at a markedly softer pace in February, ...Full Story»

India Services Activity Increases In February (01 hr(s), 32 min(s), 05 sec(s) ago)
(RTTNews) - India's service sector activity expanded at a faster rate in February, survey resu ...Full Story»

China Services Sector Slows In February - Caixin (27 min(s), 55 sec(s) ago)
(RTTNews) - The services sector in China continued to expand in February, albeit at a slower pace, ...Full Story»

Australia GDP Expands 3.1% On Quarter In Q4 (07 min(s), 55 sec(s) ago)
(RTTNews) - Australia's gross domestic product gained a seasonally adjusted 3.1 percent on qua ...Full Story»

Japan Services PMI Improves To 46.3 In February - Jibun (42 min(s), 55 sec(s) ago)
(RTTNews) - The services sector in Japan continued to contract in February, albeit at a slower pac ...Full Story»

Search

INTERNATIONAL FINANCIAL NEWS

Russia Services Growth Slows In February

03/03/2021 - 04:07 AM (RTTNews)
(RTTNews) - Russia's service sector expansion slowed slightly in February, survey results from ...Full Story>>

Swiss Consumer Prices Continue To Decline

03/03/2021 - 04:03 AM (RTTNews)
(RTTNews) - Switzerland's consumer prices continued to decline in February, data from the Fede ...Full Story>>

Turkey Consumer Price Inflation, Producer Prices Rise In February

03/03/2021 - 03:21 AM (RTTNews)
(RTTNews) - Turkey's consumer price inflation and producer prices increased in February, figur ...Full Story>>

Saudi Arabia Non-Oil Private Sector Growth Slows In February

03/03/2021 - 02:58 AM (RTTNews)
(RTTNews) - Saudi Arabia's non-oil private sector grew at a markedly softer pace in February, ...Full Story>>

India Services Activity Increases In February

03/03/2021 - 02:50 AM (RTTNews)
(RTTNews) - India's service sector activity expanded at a faster rate in February, survey resu ...Full Story>>

Do not sell my personal information

Copyright © 2021. All market data is provided by Barchart Solutions. Information is provided "as is" and solely for informational purposes, not for trading purposes or advice. To see all exchange delays and terms of use, please see disclaimer.