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Eurozone economic growth is expected to moderate in the near-term, according to survey of professional forecasters, published by the European Central Bank.
Real gross domestic product is forecast to grow 2.2 percent this year instead of 2.4 percent estimated a quarter ago. Likewise, the outlook for 2019 was revised down to 1.9 percent from 2 percent.
The growth estimate for 2020 was retained at 1.6 percent. Average longer-term expectations for real GDP growth remained unchanged at 1.6 percent.
Inflation is expected to average 1.7 percent each in 2018, 2019 and 2020. This represented upward revisions from 1.5 percent in 2018 and 1.6 percent for 2019, but no change to the expectation for 2020.
According to SPF, unemployment rate expectations were little changed, at 8.3 percent, 7.9 percent and 7.6 percent for 2018, 2019 and 2020, respectively.
