The European Commission once again revised downwards, on Wednesday 15 November, its growth forecasts for 2023 for both the euro area and the European Union, to 0.6% of GDP instead of 0.8% (see EUROPE B13247A1). But it still expects a rebound in 2024, which will continue into 2025, to 1.3% and 1.6% of GDP respectively in the euro area, and 1.3% and 1.7% respectively in the EU over these two years.
In 2023, the economy “lost momentum”, noted the European Commissioner for Economic...