Market news
16.05.2022, 09:10

European Commission cuts 2022 eurozone growth forecast to 2.7% from 4%

The European Commission (EC) announced on Monday that it lowered the euro area economic growth forecast for 2022 to 2.7% from February's forecast of 4%. For 2023, the growth forecast got revised lower to 2.3% from 2.7% as well.

The EC sees the euro area inflation at 6.1% in 2022 vs 3.5% predicted in February but expects it to decline to 2.7% in 2023, still way above the European Central Bank's (ECB) target of 2%.

"By exerting further upward pressures on commodity prices, causing renewed supply disruptions and increasing uncertainty, the war is exacerbating pre-existing headwinds to growth, which were previously expected to subside," the EC explained in its publication.

Market reaction

The EUR/USD pair edged slightly lower from the session highs on this report and was last seen trading at 1.0420, where it was up 0.1% on a daily basis.

© 2000-2022. All rights reserved.

This site is managed by Teletrade D.J. Limited 20599 IBC 2012 (First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vincent and the Grenadines).

The information on this website is for informational purposes only and does not constitute any investment advice.

AML Website Summary

Risk Disclosure

Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.

Privacy Policy

Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to Automatic import of materials and information from this website is prohibited.

Please contact our PR department if you have any questions or need assistance at

Live Chat E-mail
Choose your language / location