The euro area economy is expected to recover only moderately after a challenging year during which growth was damped by weak consumption and subdued foreign demand, the European Commission said in its Autumn Economic Forecast, released Wednesday.
The EU forecast the 20-nation currency bloc to grow by a modest 0.6 percent in 2023, which is less than the 0.8 percent estimated previously.
Going forward, economic growth is set to rebound mildly as consumption recovers with increasing real wages, the European Commission said. Investment will remain supportive and external demand will pick up.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.