The European Commission revised, on Monday 15 May, its economic forecasts for 2023 upwards again, estimating growth of 1.1% of GDP for the euro area and 1.0% for the European Union, compared with 0.9% and 0.8% respectively envisaged last February (see EUROPE B13120A1).
The macroeconomic outlook is “better than expected”, according to the European Commissioner for the Economy, Paolo Gentiloni, for whom a recession has been definitively ruled out. “We should be proud of the fact that...