EUROPEAN ECONOMY. Supplement A Recent economic trends No 6/7 - June/July 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 1993-19941 No 6/7 ­ June/July 1993 THE COMMUNITY ECONOMIC OUTLOOK: 1993­1994 ' GRAPH 1 : EC economy: General outlook The main features of the Commission services' Summer 1993 GDP growth* Economic Forecasts are as follows: • The Community economy is in the grip of recession. In 1993, Community GDP is expected to decline —for the first time since ¡975 — hy Vi apercent in real terms. With the balance of risks on the downside, a worse outcome cannot he excluded at present. • No concrete signs of recovery are appearing on the horizon, hut Employment* the combination of a further easing of monetary conditions in the Community, a gradually improving international environment and a rebound in consumer and business confidence may give rise ι to a moderate recovery led by exports and investment, resulting in 0 GDP growth of about 1 XA percent in 1994. -I • //) 1993, employment is forecast to suffer the largest reduction in ~2 Community history, namely a fall of I V* percent. With prospects Unemployment** of only a moderate recovery in output growth, an additional fall of 14 VA percent is projected for next year.

Informations

• Publié par: DIRECTORATE-GENERAL-FOR-ECONOMIC-AND-FINANCIAL-AFFAIRS
• Nombre de lectures: 8
• Langue: English
• Poids de l'ouvrage: 3 Mo

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