Eurozone Economic Forecast

Eurozone Economic Outlook

December 22, 2017

The Eurozone economy is enjoying its brightest growth spell in over a decade. GDP continued to expand buoyantly in Q3, supported by solid investment and healthy overseas sales. Tailwinds from faster global growth, an improving labor market and record-low interest rates remain in place, and incoming figures for Q4 point to another period of fast expansion. The unemployment rate fell in October, and economic sentiment rocketed to the highest level since October 2000 in November. Furthermore, the flash manufacturing PMI hit a record high in December. A breakthrough deal between the EU and the UK, reached in December, has paved the way for trade talks and discussions over the future relationship. The deal averts a hard border with Ireland; it is a solid step towards reducing the uncertainty generated by the Brexit vote. While the progress bodes well, several difficult issues need to be tackled in the upcoming year to ensure a deal can be struck before the UK exits in March 2019.

Eurozone Economic Growth

Growth is expected to remain strong next year, albeit decelerate somewhat from 2017’s brisk pace. Although the economy will have to contend with several political hurdles next year, including elections in Italy, it appears unlikely that they will derail the strong momentum. Met the why particular analysts project that GDP will expand a solid 2.1% in 2018, which is up 0.1 percentage points from last month’s forecast. In 2019, GDP is forecast to grow 1.8%.

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Eurozone Facts

Exchange Rate1.180.65 %Dec 06
Stock Market1,225-0.52 %Dec 06

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