EUROPEAN ECONOMY. Supplement A Recent economic trends No 11/12 - November/December 1993

Directorate-General For Economic And Financial Affairs

Description

ISSN 0379-2056 EUROPEAN ECONOMY COMMISSION OF THE EUROPEAN COMMUNITIES DIRECTORATE-GENERAL FOR ECONOMIC AND FINANCIAL AFFAIRS In this number : Supplement A Economic Forecasts Recent economic trends for 1993-1995J No 11/12 - November/December 1993 THE COMMUNITY ECONOMIC OUTLOOK: 1993-1995 ' The salient features of the Commission services' Autumn 1993 Economic Forecasts are as follows : • In the Community, the recession, which lasted for about one year, appears to have hit bottom in the summer of this year but a solid recovery is still some way off Following broadly flat output growth over the next few quarters, the rate of expansion of the Community economy should pick up progressively from mid-1994 onwards, rising to 2 % in 1995. • The recovery is expected to be essentially driven by further monetary easing and the self-stabilising properties of market economies. Any upswing is likely to be moderately paced, however, since the main recessionary forces ofthe last two years — tight monetary conditions, relatively high wage growth, rising unemployment, depressed private-sector confidence and more recently, announced and envisaged fiscal consolidation efforts — are likely to exert a continuous albeit diminishing constraining influence. • The historical weakness in economic activity is being ac­companied by unprecedented job losses and a steady climb in the unemployment rate, reaching a historical peak of around 1 PA % in mid-1995.

Informations

• Publié par: DIRECTORATE-GENERAL-FOR-ECONOMIC-AND-FINANCIAL-AFFAIRS
• Nombre de lectures: 7
• Langue: English
• Poids de l'ouvrage: 3 Mo

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