BusinessEurope Economic Outlook Autumn 2014 - Strong policy choices needed to rebuild momentum
Released on October 22nd 2014, BusinessEurope Autumn 2014 Economic Outlook provides further evidence that growth of the European economy has lost some momentum but has not stalled. We expect EU output to expand this year by 1.4% in the EU and by 0.8% in the Euro Area, with a potential GDP growth of 1.7% in the EU and 1.2% in the Euro Area in 2015. This implies a small downward revision of 0.2 percentage points for the EU and 0.4 percentage points for the Eurozone from our last forecast in spring 2014. Our report highlights the need for greater efforts from policy-makers to provide a fresh impetus to growth and further reduce unemployment, particularly through supporting competitive product and services markets, labour market flexibility, improved access to finance and a deeper single market.