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Macroeconomic policy / 'Economic Outlook'

The Economic Outlook is our twice-yearly review of recent economic developments and projection of future economic developments. It is based on input from our member federations across Europe.

Following the deepest falls in output since the Great Depression in this spring, the EU economy began its recovery during the summer, but the path back to pre-COVID levels of output is likely to be long and uneven, with uncertainty unusually high.

We expect the EU economy to fall by 7.3% in 2020 as a result of the COVID-19 epidemic and associated lockdowns, followed by growth of 5.0% in 2021. And whilst official data shows only marginal increases in unemployment, falls in hours worked are equivalent to 18 million full time jobs in the third quarter of 2020. 

Underlining the challenges ahead, we forecast that even by Q4 2021, the level of economic activity will be around 3% below the precrisis level.

Publications

Press releases Date
Rapid implementation of EU recovery instrument is key in enduring COVID crisis 03/11/2020
Coordinated fiscal stimulus necessary to deliver full recovery by end 2021 19/05/2020
EU faces economic slowdown due to trade tensions 07/11/2019
EU finance ministers must achieve breakthrough on EMU completion 12/06/2019
Escalating global trade tensions and skills shortages a risk for EU economy 05/11/2018
EU growth at risk of peaking 22/06/2018
EU’s economic recovery picks up momentum 06/11/2017
EU recovery continues despite challenges 20/10/2016
EU social partners should support reforms and growth to secure EU's social model 14/06/2016
Commission’s economic forecast underscores the need for policies supporting long-term growth 03/05/2016
"We must safeguard the EU economic recovery", Marcegaglia - BusinessEurope presents Economic Outlook at EU Tripartite Social Summit 14/10/2015
Reports and studies Date
BusinessEurope Economic Outlook Autumn 2020 - Protecting Europe's fragile recovery 03/11/2020
BusinessEurope Economic Outlook Spring 2020 - Strengthening the economic recovery 19/05/2020
BusinessEurope Economic Outlook Autumn 2019 - EU economy weakens as trade tensions continue 07/11/2019
BusinessEurope Economic Outlook Spring 2019 - EU growth falters 13/06/2019
BusinessEurope Economic Outlook Autumn 2018 - EU growth to remain above trend 05/11/2018
BusinessEurope Economic Outlook Spring 2018 - EU growth at risk of peaking 22/06/2018
BusinessEurope Economic Outlook Autumn 2017 - The EU's economic recovery picks up momentum 06/11/2017
BusinessEurope Economic Outlook Spring 2017 - The EU economic recovery continues 08/06/2017
BusinessEurope Economic Outlook Autumn 2016 - EU recovery continuing despite Brexit vote 19/10/2016
BusinessEurope Economic Outlook Spring 2016 - Political uncertainty dampening Europe's economic recovery 01/06/2016
BusinessEurope Economic Outlook Autumn 2015 - Global risks underline need for reforms to 'lock in' the recovery 15/10/2015
BusinessEurope Economic Outlook Spring 2015 - Policy action needed to make a temporary boost structural 29/04/2015
BusinessEurope Economic Outlook Autumn 2014 - Strong policy choices needed to rebuild momentum 22/10/2014
BusinessEurope Economic Outlook Spring 2014 - The recovery still needs securing 21/05/2014
Speeches Date
Macroeconomic dialogue meeting at political level, 11 March 2019 - Address by Markus J. Beyrer, BusinessEurope Director General 11/03/2019
Macroeconomic dialogue meeting at political level, 21 February 2017 - Address by Markus J. Beyrer, BusinessEurope Director General 22/02/2017
Macroeconomic dialogue meeting at political level, 7 November 2016 - Address by Markus J. Beyrer, BusinessEurope Director General 07/11/2016
Extraordinary macroeconomic dialogue at political level - Address by Markus J. Beyrer 14/06/2016
Macroeconomic dialogue meeting at political level, 11 February 2016 - Address by Markus J. Beyrer, BusinessEurope Director General 11/02/2016
Boosting convergence, jobs and growth: towards a strengthened role of social partners" - Address by BusinessEurope President Emma Marcegaglia at the EU Tripartite Social Summit 15/10/2015
Macroeconomic dialogue meeting at political level on 16 February 2015 - Address by Markus J. Beyrer, BusinessEurope Director General 16/02/2015
Macroeconomic dialogue at political level - Address by Emma Marcegaglia, President of BusinessEurope 07/07/2014
30th Macroeconomic Dialogue meeting at political level - Speech by Markus J. Beyrer 10/03/2014
Position papers Date
Reduction of the PRODCOM list from 8-digit to 6-digit level - a BusinessEurope position paper 19/01/2017
Facts and figures Date
BusinessEurope Economic Outlook Spring 2016 - Political uncertainty dampening Europe's economic recovery 01/06/2016
BusinessEurope Economic Outlook Autumn 2015 - Global risks underline need for reforms to 'lock in' the recovery 15/10/2015
BusinessEurope Economic Outlook Spring 2015 - Policy action needed to make a temporary boost structural 29/04/2015
BusinessEurope Economic Outlook Autumn 2014 - Strong policy choices needed to rebuild momentum 22/10/2014
Public letters Date
Concerns about the SIMSTAT project - Letter from James Watson to Eurostat 13/05/2016
Reduction of the PRODCOM list from 8-digit to 6-digit level - Letter from James Watson to Eurostat 13/05/2016

Contact

James Watson

Director
Tel:
+32 2 237 65 15

Malthe Munkøe

Senior Adviser
Tel:
+32 2 237 65 26
Last updated: 3 November 2020