3 sources·Business

Modest Economic Growth for Europe Amid Trade Tensions

The European economy shows signs of recovery with modest growth forecasts despite potential trade risks from new U.S. tariffs under President Trump.

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Updated: Nov 15th, 2024, 10:51 AM ET

Summary

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The European Commission reports that while the EU has exited stagnation, projected growth remains modest at 0.8% for 2023 and 1.3% for 2024. Inflation is expected to stabilize at 2.1%, with consumer purchasing power gradually recovering. However, risks from U.S. trade policy under President-elect Trump loom, as potential tariffs could strain both European and U.S. economies. Germany continues to struggle, with negative growth projected for the current year and a slight recovery forecasted for next year.

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