EU must safeguard modest economic recovery...
…despite substantial uncertainty: UK, China, Schengen
- Statement to EU leaders: Presidents of 40 European business federations
- European business calls for UK to remain in the EU
- Spring Economic Outlook 2016
European Business Summit 2016 – Press conference 2 June 2016 10:45am CEST
1000 Brussels, Place du Petit Sablon 8
Today at the European Business Summit in Brussels, BUSINESSEUROPE published its Spring Economic Outlook 2016 showing that the modest economic recovery in the EU and Euro-area is expected to continue, but substantial uncertainty persists.
BUSINESSEUROPE Director General Markus J. Beyrer said: "We observe a gradual recovery of the EU economy and forecast GDP to grow by 2.0% in the EU in 2016 and by 1.9% in 2017. However, a number of risks to the EU economy remain, including the migration crisis and the associated risk of a breakdown of the Schengen agreement, the UK referendum which is already resulting in the postponement of some investment, and the potential for a further slowdown in the global economy. Whilst domestic demand is now playing the main role in driving growth, much more still needs to be done to boost EU investment and drive long-term growth.
BUSINESSEUROPE’s Economic Outlook is published twice a year, based on input from our member federations.