Mexican Media Brands
EU Raises Growth Forecast
The European Commission, which in February predicted 1.5% growth in the EU26 this year, now expects the region's economy to expand 1.6% in 2014.
#economics
Share
The European Commission, which in February predicted 1.5% growth in the EU26 this year, now expects the region's economy to expand 1.6% in 2014.
The commission also forecasts unemployment in the EU will decline from 10.5% in March to 10.1% this year.
The EC says conditions point to a "muted but continuing" recovery for the EU, with 1.6% growth in gross domestic product this year and 2% in 2015. The commission anticipates real GDP growth within the 18-member eurozone of 1.2% in 2014 and 1.7% next year.
The EC expects inflation in the eurozone to slow to 0.8% this year the same as in 2013 from the 1.0% it forecast in February, then increase to 1.2% next year. The commission says inflation for the EU will be 1% this year and 1.5% in 2015.
The International Monetary Fund has warned that a sub-1% inflation rate threatens the region with dangerous deflation. But the EC says conditions for a sustained recovery in the medium term are improving.
RELATED CONTENT
-
Tariffs on Autos: “No One Wins”
While talk of tariffs may make the president sound tough and which gives the talking heads on cable something to talk about, the impact of the potential 25 percent tariffs on vehicles imported to the U.S. could have some fairly significant consequences.
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.
-
On The German Auto Industry
A look at several things that are going on in the German auto industry—from new vehicles to stamping to building electric vehicles.