EU Autumn 2020 Economic Forecast

The latest economic forecast published by the European Commission, released this month, is characterised by great uncertainty in growth projections as a result of the resurgence of COVID-19. The EU economy is expected to contract by 7.4% in 2020, and then to grow by 4.1% in 2021 and by 3% in 2022, although growth figures will vary widely between countries as a result of differences in the spread of the virus, policy responses (including containment measures) and the sectoral composition of national economies. Unemployment is expected to rise from 6.7 % in 2019 to 7.7% this year, and on to 8.6% in 2021, before declining to 8% in 2022.

The full economic forecast, including country-specific data, can be found here.

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