21.07.201705:30:00UTC+00Forecasters Lift Eurozone GDP Outlook: ECB

The Eurozone economy is forecast to expand at faster than expected pace, according to the Survey of Professional Forecasters published by the European Central Bank.

SPF respondents lifted 2017 growth outlook to 1.9 percent from 1.7 percent and that for next year to 1.8 percent from 1.6 percent. Expectations for 2019 was raised marginally to 1.6 percent from 1.5 percent.

At 1.6 percent, there were no changes to longer-term economic growth expectations.

At the same time, inflation projections for 2017, 2018 and 2019 were revised down by 0.1 percentage points each. For 2017, the respondents forecast 1.5 percent inflation, 1.4 percent for 2018 and 1.6 percent for 2019.

Unemployment rate expectations continued to show a declining trajectory. The average point forecasts were 9.2 percent, 8.8 percent and 8.4 percent for 2017, 2018 and 2019, respectively.

The third quarter survey was conducted between July 3 and 7.