The European Comission - Directorate-General for Economic and Financial Affairs has published its European Economic Forecast: Autumn 2023. The report reveals that the European economy has lost momentum this year against the background of a high cost of living, weak external demand and monetary tightening. While economic activity is expected to gradually recover going forward, the European Commission’s Autumn Forecast revises EU GDP growth down compared to its summer projections. Inflation is estimated to have dropped to a two-year low in the euro area in October and is set to continue declining over the forecast horizon.

The report is produced by the European Commission’s Directorate-General for Economic and Financial Affairs.

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