EU Commission: Growth continues at a more moderate pace, GDP to expand by 1.4% in EU

According to the Spring 2019 Economic Forecast published by the European Commission, real GDP is forecast to grow by 1.4% in the EU this year and 1.2% in the euro area.

Key quotes

"As global trade and growth are expected to remain weaker this year and next compared to the brisk pace seen in 2017, economic growth in Europe will rely entirely on domestic activity."

"The unemployment rate in the euro area is forecast to fall to 7.7% in 2019 and to 7.3% in 2020, lower than it was before the crisis began in 2007."

"With energy price inflation expected to moderate further in the coming quarters and little sign that higher wage growth has been fuelling underlying price pressures, euro area inflation (Harmonised Index of Consumer Prices) is forecast to reach 1.4% in both 2019 and 2020."