Economy
Autumn European economic forecast
On 5 November, the European Commission will publish its annual autumn economic forecast covering the period 2013-2015. The forecast will include data on Gross Domestic Product (GDP), inflation, employment and public budget deficits and debt, amongst others. These forecasts focus on all 28 member states, plus the candidate countries Turkey, Iceland, Montenegro, Serbia, and the Former Yugoslav Republic of Macedonia, as well as other non-EU countries such as USA, Japan, China and Russia.
Background
The European Commission produces macroeconomic forecasts three times per year: in the spring, autumn and winter. They serve as a basis for various fiscal and macroeconomic surveillance procedures, such as in the context of the European Semester.
The autumn forecast will provide a clearer picture of Member States' compliance with the Council of Ministers' Recommendations both under the Stability and Growth Pact and the Macroeconomic Imbalance Procedure. In this context, the forecasts will feed into the Commission's fiscal, budgetary and macroeconomic assessments due mid-November.
Sources
Spring European Economic Forecast (published 3 May 2013): IP/13/396
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