In the euro area, gross domestic product (GDP) growth will be revised downwards from 1.1 to 0.8 percent this year and from 1.6 to 1.3 percent in 2024. In addition, an inflation rate of 5.6 percent in 2023 and 2.9 percent in 2024 is predicted.
There were also interim forecasts for the largest EU economies: The German economy is expected to shrink by 0.4 percent in 2023 before returning to a slight growth path of 1.1 percent in 2024. The German economy has not grown for three quarters in a row. According to many economists, a trend reversal is not expected for the time being.
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