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Autumn 2013 economic forecast: Gradual recovery, external risks

EU News 460/2013

Brussels, 5 November 2013

In recent months, there have been encouraging signs that an economic recovery is underway in Europe. After contracting up to the first quarter of 2013, the European economy started to grow again in the second quarter and real GDP is set to continue growing in the remainder of this year.

Growth in the second half of 2013 is expected at 0.5 % compared to the same period in 2012 in the EU. On an annual basis, real GDP growth this year is estimated at 0.0 % in the EU and -0.4 % in the euro area. Looking ahead, economic growth is forecast to gradually gather pace over the forecast horizon, to 1.4 % in the EU and 1.1 % the euro area in 2014, reaching 1.9 % and 1.7 % in 2015, respectively.

Source and additional information:

Olli Rehn Date: 05/11/2013 Reference: P-024288/00-02 Location: Brussels - EC/Berlaymont (C)EU, 2013 URL