Economic Forecast autumn 2008 - EU outlook for 2008-2010

On 3 November 2008 the European Commission published its autumn economic forecasts, updating the outlook for the period 2008-2010 for the EU and Euro area aggregates. In summary, the economy is expected to come to a virtual stand-still in both the EU and the euro zone in 2009. This is a significant downward revision compared with the Commission's spring forecast. This downturn will, on the other hand, help ease inflationary pressures as oil prices come down and the risks of second-round effects diminish. But both labour markets and public finances are set to deteriorate. The forecast is surrounded by considerable uncertainty and downside risks prevail.

The link address is: http://ec.europa.eu/economy_finance/thematic_articles/article13288_en.htm