Macro - Country Economic Forecasts - Eurozone

Macro - Country Economic Forecasts - Eurozone

We have marginally raised our 2022 GDP growth forecast for the eurozone to 3.1% and continue to expect a 0.1% contraction in 2023. Eurozone GDP grew by 0.2% in Q3, according to aggregate figures. While GDP surprised to the upside in Q3, high-frequency data suggest the eurozone is headed for a recession this winter as elevated inflation will limit purchasing power and high energy and production costs will weigh on manufacturing.

Eurozone: L3 GDP was resilient, but a recession is imminent
Forecast overview
Recent developments
Short-term outlook
Key drivers of our Short-term Forecast
Economic risk
What to watch out for

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