Eurosystem staff macroeconomic projections for the euro area countries1)
December 2021
Real GDP2) | HICP | Unemployment rate | ||||||||||||||||||
(annual percentage changes) | (annual percentage changes) | (percentage of labour force) | ||||||||||||||||||
2021 | 2023 | 2024 | 2021 | 2022 | 2023 | 2024 | 2021 | 2022 | 2023 | 2024 | ||||||||||
2022 | ||||||||||||||||||||
euro area | 5.1 | 4.2 | 2.9 | 1.6 | 2.6 | 3.2 | 1.8 | 1.8 | 7.7 | 7.3 | 6.9 | 6.6 | ||||||||
Belgium | 6.1 | 2.6 | 2.4 | 1.6 | 3.2 | 4.9 | 1.2 | 1.2 | 6.3 | 6.1 | 5.8 | 5.7 | ||||||||
Germany | 2.5 | 4.2 | 3.2 | 0.9 | 3.2 | 3.6 | 2.2 | 2.2 | 3.6 | 3.2 | 2.9 | 2.8 | ||||||||
Estonia | 8.0 | 2.8 | 3.9 | 2.9 | 4.2 | 6.9 | 3.2 | 2.6 | 6.2 | 5.5 | 5.3 | 4.7 | ||||||||
Ireland | 15.8 | 7.0 | 5.6 | 5.1 | 2.4 | 3.9 | 2.2 | 1.9 | 6.7 | 6.5 | 5.7 | 5.2 | ||||||||
Greece | 7.2 | 5.0 | 3.9 | 2.9 | 0.6 | 3.0 | 0.9 | 0.9 | 15.7 | 14.3 | 12.8 | 11.6 | ||||||||
Spain | 4.5 | 5.4 | 3.9 | 1.8 | 3.0 | 3.7 | 1.2 | 1.5 | 15.0 | 14.2 | 12.9 | 12.4 | ||||||||
France | 6.7 | 3.6 | 2.2 | 1.4 | 2.1 | 2.5 | 1.5 | 1.6 | 8.0 | 7.9 | 7.8 | 7.7 | ||||||||
Italy | 6.2 | 4.0 | 2.5 | 1.7 | 1.9 | 2.8 | 1.5 | 1.7 | 9.5 | 9.0 | 8.9 | 8.7 | ||||||||
Cyprus | 5.6 | 3.6 | 3.7 | 3.8 | 2.2 | 2.5 | 1.2 | 1.5 | 7.5 | 6.8 | 6.2 | 5.6 | ||||||||
Latvia | 4.6 | 4.2 | 4.0 | 3.3 | 3.2 | 6.1 | 2.9 | 2.1 | 7.8 | 7.5 | 6.8 | 6.6 | ||||||||
Lithuania | 5.1 | 3.6 | 3.8 | 3.3 | 4.5 | 5.0 | 2.3 | 2.0 | 7.1 | 6.7 | 6.4 | 6.2 | ||||||||
Luxembourg | 6.0 | 3.7 | 3.2 | 2.9 | 3.5 | 3.2 | 1.6 | 1.6 | 5.8 | 5.5 | 5.3 | 5.0 | ||||||||
Malta | 6.0 | 6.5 | 5.3 | 3.8 | 0.7 | 2.1 | 1.9 | 1.8 | 3.4 | 3.4 | 3.6 | 3.6 | ||||||||
The Netherlands | 4.5 | 3.6 | 1.7 | 1.1 | 2.7 | 3.0 | 2.9 | 1.9 | 3.3 | 3.4 | 3.5 | 3.2 | ||||||||
Austria | 4.9 | 4.3 | 2.6 | 1.8 | 2.7 | 3.2 | 2.3 | 2.0 | 6.3 | 5.4 | 5.0 | 4.7 | ||||||||
Portugal | 4.8 | 5.8 | 3.1 | 2.0 | 0.9 | 1.8 | 1.1 | 1.3 | 6.6 | 6.0 | 5.7 | 5.6 | ||||||||
Slovenia | 6.7 | 4.0 | 3.3 | 2.6 | 2.0 | 3.8 | 1.8 | 2.0 | 4.8 | 4.2 | 3.9 | 3.7 | ||||||||
Slovakia | 3.1 | 5.8 | 5.6 | 2.7 | 2.8 | 5.7 | 2.4 | 1.9 | 6.9 | 6.4 | 5.6 | 5.4 | ||||||||
Finland | 3.5 | 2.6 | 1.5 | 1.3 | 2.1 | 2.0 | 1.6 | 1.8 | 7.7 | 7.1 | 6.6 | 6.6 | ||||||||
- Individual countries' projections underling the Eurosystem staff macroeconomic projections for the euro area. The cut-off date for including the latest information in the projections was 1 December 2021. The cut-off date for the technical assumptions was 25 November 2021.
- Working day-adjusted data for the euro area and for most euro area countries.
Eurosystem staff macroeconomic projections for the euro area countries, December 2021 | 1 |
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ECB - European Central Bank published this content on 03 January 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 January 2022 13:08:03 UTC.
