EUROFRAME - European Forecasting Network. Economic Assessment of the Euro Area: Forecasts and Policy Analysis Spring Report 2006. Special Policy Issue: Convergence and Integration of the New Member States to the Euro Area. March 2006

Author, No (2006) EUROFRAME - European Forecasting Network. Economic Assessment of the Euro Area: Forecasts and Policy Analysis Spring Report 2006. Special Policy Issue: Convergence and Integration of the New Member States to the Euro Area. March 2006. UNSPECIFIED.

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Abstract

Following a period of sluggish growth, the Euro Area is showing signs of recovery and this is reflected in the GDP growth forecasts for 2006 and 2007. Growth in the final quarter of 2005 was weak at only 0.3 per cent, but we are forecasting a recovery to a stronger rate of 0.7 per cent in the first quarter of 2006. We expect this performance to be maintained through 2006 and so we forecast GDP growth of 2.2 per cent for this year. For 2007, we forecast a slightly slower rate of GDP growth, 2 per cent. The forecast also includes an expectation of continued strong growth in the world economy.

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