Conf. univ. dr. Raluca Andreea MIHALACHE
Universitatea Artifex, Bucuresti
Abstract
The recovery in euro area economic activity will continue according to projections. It is anticipated that real GDP will increase by 1,7% in 2016 and 1,9% in 2017. The overall prospects are unchanged compared to the previous period, the domestic demand is however more favorable external demand and the less favorable.It is estimated that the recovery of economic activity in the euro area will continue, supported increasingly by domestic demand over the projection horizon. In the third quarter of 2015, real GDP grew by 0,3%. Looking ahead, on the basis of high levels of consumer confidence and corporate sector in recent months, we anticipate maintaining economic growth in the short term. Subsequently, a number of favorable factors are expected to support real GDP growth over the projection horizon, especially the accommodative monetary policy, a slight fiscal loosening, low prices of oil and gradually improving demand prospects worldwide, combined with the increase in quota the market share held by euro area exports, reflecting the relatively weaker exchange rate of the euro effectively.
Key words: economic recovery, GDP, private consumption, government consumption, inflation, HICP inflation, budget balance, flash consumer confidence indicator
JEL classification: C82, E20, E22, E60, H6
Global and European Economic Recovery
Abstract
The recovery in euro area economic activity will continue according to projections. It is anticipated that real GDP will increase by 1,7% in 2016 and 1,9% in 2017. The overall prospects are unchanged compared to the previous period, the domestic demand is however more favorable external demand and the less favorable.
It is estimated that the recovery of economic activity in the euro area will continue, supported increasingly by domestic demand over the projection horizon. In the third quarter of 2015, real GDP grew by 0,3%. Looking ahead, on the basis of high levels of consumer confidence and corporate sector in recent months, we anticipate maintaining economic growth in the short term. Subsequently, a number of favorable factors are expected to support real GDP growth over the projection horizon, especially the accommodative monetary policy, a slight fiscal loosening, low prices of oil and gradually improving demand prospects worldwide, combined with the increase in quota the market share held by euro area exports, reflecting the relatively weaker exchange rate of the euro effectively.
Key words: economic recovery, GDP, private consumption, government consumption, inflation, HICP inflation, budget balance, flash consumer confidence indicator
JEL classification: C82, E20, E22, E60, H6
