Autumn 2017 Economic Forecast: European growth has now accelerated   


The euro area economy is on track to grow at its fastest pace in a decade this year, with real GDP growth forecast at 2.2%.

This is substantially higher than expected in spring (1.7%).

According to its Autumn Forecast, the European Commission expects growth to continue in both the euro area and in the EU at 2.1% in 2018 and at 1.9% in 2019 (Spring Forecast: 2018: 1.8% in the euro area, 1.9% in the EU).

Although the cyclical recovery has now been underway for 18 uninterrupted quarters, it remains incomplete, with for instance still significant slack in the labour market and untypically low wage growth. GDP growth and inflation are therefore still dependent on policy support.


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Protecting St Petersburg from floods
A Flood Protection Barrier has been constructed to protect Saint-Petersburg from flooding, and at the same time creating a motorway crossing over the Gulf of Finland as part of the Ring road around Saint-Petersburg and controlling water flow conditions and the ecological status of the Neva Bay.