Today while I was browsing over the net on European Economy; I found a document titled “European Economic Forecast”. This report gives us a detailed study about status of European economy and International Environment. I also browsed some other materials where I found some information on EU and Euro Economy. The GDP growth rate have been forecasted to 1.7% and 2% for 2011 and 2012 respectively within EU and 1.5% and 1.8% for 2011 and 2012 in Euro Area.
Inflation is projected to average 2% in the EU this year and next, easing to around 1.75% in 2012. For the euro area, a rate of 1.75% is expected in both 2011 and 2012. In forecast a modest improvement is expected with employment growth of almost 0.50% and around 0.75% is in 2011 and 2012, respectively. The unemployment rate is projected to gradually fall, from some 9.50% this year to about 9% by 2012.
It is expected that (EU as a whole) a deficit of slightly above 5% of GDP in 2011 and 1 percentage point in 2012 as the recovery gains ground.
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