The Commission recently released a positive outlook for the EU economy in its Spring 2024 Economic Forecast. Despite a downturn in economic activity in 2023, inflation rates are expected to continue decreasing, and the EU economy is projected to slowly grow in 2024. This growth is attributed to consumers spending more as a result of higher wages and increased job opportunities. Specifically, the EU economy is forecasted to grow by 1.0% in 2024, while the euro area economy is expected to see a growth of 0.8%. The GDP is anticipated to grow even further in 2025.
The inflation in the EU has dropped significantly since its peak in 2022 and is projected to decrease even more, reaching 2.7% in 2024 and 2.
