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MNI BRIEF: Gas Price Shock Hit To EA GDP of 0.2% - ECB Study

(MNI) Frankfurt

Soaring natural gas prices are currently the main driver of low growth in the euro area, a study published as part of the latest ECB Economic Bulletin concludes, with the combined effect of surging oil and gas costs potentially reducing euro area output by 0.2% by the end of this year.

The direct and indirect effect of a 10% gas rationing shock on the corporate sector could cut euro area gross value added by about 0.7%, while a permanent one standard deviation increase in gas prices from the first quarter of 2021 would cut euro area GDP by around 0.2% over a three-year projection horizon

MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
Political RiskPolicy NewsCentral Bank NewsEuropean Central BankCEEMEAEurozoneEuropean Central Bank (ECB) Market NewsBriefGlobalStoryRegion
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MNI London Bureau | +44 20 3983 7894 | luke.heighton@marketnews.com
Political RiskPolicy NewsCentral Bank NewsEuropean Central BankCEEMEAEurozoneEuropean Central Bank (ECB) Market NewsBriefGlobalStoryRegion
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