Global Economic Outlook 2023: Euro Area Edition
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Global Economic Outlook

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    • Global Economic Outlook 2023: Euro Area Edition

    October 17, 2022 | Report

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    Recession in the Short Term Gives Way to Weaker Growth in the Longer Term

    Russia’s unjustified war in Ukraine has sharply deteriorated the European economic outlook for 2022 and 2023. Soaring energy prices pushing overall inflation to double digits, plummeted consumer confidence, and dented business activity amid reduced demand are likely to tip the Euro Area economy into recession by the end of 2022. More recently, the ECB’s decision to tighten its monetary policy has increased downside risks to the region’s growth prospects. 

     
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    AUTHORS

    Klaasde Vries

    Klaas de Vries

    Former Senior Economist
    The Conference Board

    KonstantinosPanitsas

    Konstantinos Panitsas

    Economist
    ESF Europe, The Conference Board

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