The European Commission raised the growth forecast for the euro area on Wednesday and warned that inflation could be higher than expected if supply constraints persist.
Eurozone is set to grow 4.8 percent this year, the executive arm of the EU said in its latest summer projections. That is stronger than the spring projection of 4.3 percent.
The outlook for next year was raised to 4.5 percent from 4.3 percent. The EU growth outlook for this year was boosted to 4.8 percent from 4.2 percent. The projection for next year was raised to 4.5 percent from 4.4 percent. "Uncertainty and risks surrounding the growth outlook are high but remain overall balanced," the report said.
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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.