EBF Economic Outlook: strong growth in uncertain times
Euro area GDP growth seen at 2.1% in 2017, 1.9% in 2018
BRUSSELS, 7 November 2017 – The Euro area economy will continue its recovery with economic growth gaining momentum amid continuing political uncertainty, according to the bi-annual Economic Outlook of the European Banking Federation that is published today.
The EBF foresees the Euro area GDP growing by 2.1 percent in 2017 before slightly moderating to 1.9 percent in 2018. Inflation is expected to slightly decelerate in 2018. The EBF Chief Economists Group expects consumer price inflation to stand at 1.3 percent in 2018 after a substantial rise to 1.5 percent in 2017 from 0.2 percent in 2016.
The outlook is a bi-annual report is prepared with contributions from the European Banking Federation’s Chief Economists’ Group, comprising the chief economists of leading European banks and banking associations. This report reflects a consensus on the outlook for the Euro area economy, which is based on arithmetic averages.
The European Banking Federation is the voice of the European banking sector, uniting 32 national banking associations in Europe that together represent some 3,500 banks – large and small, wholesale and retail, local and international – employing approximately two million people. EBF members represent banks that make available loans to the European economy in excess of €20 trillion and that securely handle more than 400 million payment transactions per day. Launched in 1960, the EBF is committed to creating a single market for financial services in the European Union and to supporting policies that foster economic growth.