ECB growth, inflation outlook until 2022

The European Central Bank on Thursday unveiled its growth and inflation forecasts for the eurozone, for the firs time through to 2022.

Economists at the Frankfurt-based institution slightly lowered their growth outlook for 2020 to 1.1 percent amid “persistent global uncertainties”, but said the current slowdown showed signs of bottoming out.

Inflation is expected to climb from 1.1 percent next year to 1.6 in 2022 — bringing it closer to the ECB’s target of just under two percent.

Here is a table with all the ECB’s major projections. The previous forecasts are given in brackets.

The figures are expressed as percentage changes, and are all positive unless indicated otherwise.

Real GDP growth 1.2 (1.1) 1.1 (1.2) 1.4 (1.4) 1.4

Inflation 1.2 (1.2) 1.1 (1.0) 1.4 (1.5) 1.6

Private consumption 1.3 (1.3) 1.4 (1.3) 1.3 (1.3) 1.2

Government consumption 1.5 (1.5) 1.6 (1.5) 1.5 (1.4) 1.5

Investment 4.5 (3.1) 1.7 (1.9) 1.9 (2.1) 2.1

Exports 2.3 (2.3) 1.9 (2.4) 2.5 (3.0) 2.6

Imports 3.1 (2.6) 2.5 (3.1) 2.8 (3.4) 2.8

https://www.ecb.europa.eu/pub/projections/html/index.en.html