Commission’s economic forecast underscores the need for policies supporting long-term growth
Following the release of the European Commission’s Spring Economic Forecast this morning, BUSINESSEUROPE Director General Markus J. Beyrer made the following comment:
“The picture painted today by the Commission of a continuing recovery despite increasing challenges to global growth is one that many businesses across Europe will recognise. Europe will increasingly need to create its own drivers, with structural reforms, particularly in the labour markets, key to increasing competitiveness and reducing unemployment differences. The need for strong policy action is emphasised by the fact that output in the Euro-area only exceeded its pre-crisis peak at the turn of the year, whilst the US economy is already about 10% larger than in 2008.”
BUSINESSEUROPE will publish its own Spring Economic Outlook, based on a survey of its member federations, later this month.