EU Commission Revises up Estimates For Eurozone Growth And Inflation

The European Commission is out with its latest quarterly economic projections, raising the Eurozone growth and inflation estimates for this year while warning about the risks posed by new variants of the coronavirus.

Raises forecast for Eurozone GDP growth to 4.8% in 2021 from 4.3%, to 4.5% in 2022 from 4.4% seen in May.

Expects euro zone inflation at 1.9% in 2021, 1.4% in 2022.

Raises forecast for Germany’s GDP growth to 3.6% in 2021 from 3.4%, to 4.6% in 2022 from 4.1% seen in May.

Raises forecast for France’s GDP growth to 6.0% in 2021 from 5.7%, confirms estimate of 4.2% growth in 2022.

Raises forecast for Italy’s GDP growth to 5.0% in 2021 from 4.2% previously estimated, cuts forecasts for 2022 growth to 4.2% from 4.4%.