ECB releases the results of its latest survey of professional forecasters
- 2020 GDP growth forecast -8.3% (previously -5.5%)
- 2021 GDP growth forecast +5.7% (previously +4.3%)
- 2022 GDP growth forecast +2.4% (previously +1.7%)
- 2020 inflation forecast +0.4% (unchanged)
- 2021 inflation forecast +1.0% (previously +1.2%)
- 2022 inflation forecast +1.3% (previously +1.4%)
The previous survey in May can be found here. The revised economic contraction of 8.3% is slightly less deep than the ECB’s own projection of a 8.7% drop in the euro area economy this year, with a stronger rebound expected for 2021 and 2022.
But again, when it comes to forecasts and projections, take things with a pinch of salt. The virus situation is constantly developing and as such, views towards the global economy will also change depending on how things progress in the coming months.