EU cuts eurozone GDP forecast, sees 6.1% Inflation in 2022

EU cuts eurozone GDP forecast, sees 6.1% Inflation in 2022

From luxtimes.lu

The European Union cut its prediction for 2022 eurozone growth and almost doubled its estimate for inflation, according to new draft projections. In the first forecast since the outbreak of war in Ukraine, the European Commission will say gross domestic product will expand 2.7% in 2022 and 2.3% in 2023, according to a draft seen by Bloomberg. That’s down from February readings of 4% and 2.7%. On inflation, the commission predicts rates of 6.1% and 2.7% for this year and next, compared with previous forecasts of 3.5% and 1.7%, respectively. The predictions aren’t finalised and may still change before they are ... (full story)

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