On Thursday 15 February, the European Commission revised its economic growth forecasts for the euro area downwards again, to 0.5% of GDP for 2023 and 0.8% of GDP for 2024, compared with 0.6% and 1.3% respectively in its previous forecasts, issued last November (see EUROPE B13293A2). At EU level, growth is expected to be 0.5% in 2023 and 0.9% in 2024. Nevertheless, the EU institution is still expecting a “rebound” this year, albeit delayed.
After a post-Covid-19 pandemic period of strong...