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of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
EUROPEAN DATA
MNI (London)
Weak global demand and surging inflationary pressures emanating from the Ukraine war has led to substantially weakened EU growth outlooks in the European Commission's Autumn forecast.
- 2022 growth is anticipated to be stronger than initially expected, after H1 2022 GDP surprised to the upside, underpinned by strong consumer spending. This should lift real GP growth for 2022 to 3.3% (3.2% in EZ) (up from 2.7% in Summer).
- 2023 outlooks have worsened. GDP is expected to see weak growth of 0.3% in the EU and EZ in 2023 (below 0.9% projected by the ECB), regaining some momentum at 1.6% (EU) and 1.5% (EZ) in 2024.
- Inflation forecasts have been upgraded substantially from the Summer projections, by approx. 1pp to 2022 and 2pp to 2023 largely due to energy costs. At 9.3% in 2022 and 7.0% in 2023, this markedly higher than the ECB's September projections of 8.1% (2022) and 5.5%% (2023).
- The labour market is largely anticipated to remain resilient, yet employment growth is to come to a standstill in 2023 as weak economic conditions see hiring plateau.
- Below is a summary of the key projections from the report:
Source: EC / MNI
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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