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Economic Outlook

Euroframe report 2015: Economic assessment of the euro area

Authors

  • Gern
  • K.-J.

Publication Date

Key Words

Euro area

European Monetary Union

growth drivers

Related Topics

European Union & Euro

Business Cycle Euro Area

Business Cycle

Europe

Since EUROFRAME published its economic assessment of the Euro Area last year (EUROFRAME 2014), conditions have disimproved somewhat. Our forecast for 2014 last year was a full half a percentage point greater than that actually realized as the tentative recovery from recession evident in 2013 dissipated throughout 2014. It now appears the Euro Area will only grow by 0.8 per cent in 2014. While world GDP in 2014 did not grow quite as strongly as envisaged, it will still increase by 3.3 per cent. Unlike the Euro Area, the anticipated recovery in the US expected last year has all but materialized.

Kiel Institute Expert

  • Dr. Klaus-Jürgen Gern
    Kiel Institute Researcher

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