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EU forecasts 1.8% growth for 2010

09-14-2010 08:22 BJT

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New figures suggest Europe's economy is on the road to recovery. Economists from the European Commission are predicting that growth is likely to be nearly double previous estimates.

The EU Executive, believes the euro zone is likely to grow by 1.7 percent this year If you remember May's forecast was 0.9 percent. So these figures are UP from a 4.1 percent contraction last year.

For 2010 as a whole, the growth rate is NOW projected at 1.8 percent. But, the executive warns there is no room for complacency.

The European Commission says second quarter growth was more balanced toward domestic demand than previously anticipated. On inflation, the forecast for this year remains broadly unchanged since the spring, at 1.8 percent for the EU, and 1.4 percent for the euro ZONE both remaining subdued in these areas.

Olli Rehn, EU Economic & Monetary Affairs Commissioner, said, "Although growth will somewhat slow down in the second half of the year, this gives reason for cautious optimism, despite a more uncertain global environment, and the forecasts for economic growth are therefore revised upwards, whilst the inflation outlook is largely unchanged."

 

 

 

Editor:Zhang Pengfei |Source: CNTV.CN

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