The European Commission’s autumn economic forecasts, published on Tuesday (4 November), lay bare the worsening state of the eurozone economy, which is expected to grow by just 0.8% this year, 1.1% in 2015 and 1.7% in 2016. That is well below the trend growth rate of more than 2% in the decade before the financial crisis.
Employment will rise by 0.4% in 2014 and 0.5% in 2015, the Commission forecast, leaving unemployment at 10.8% in 2016. Overall eurozone government debt will stand at 94.5% of gross domestic product (GDP) in 2014, climbing marginally in 2015 before starting to fall in 2016.
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Source: European Voice
