Economy

Euro area GDP to grow 1.1% in 2020: ECB survey

European Central Bank survey makes expectations for GDP, inflation, unemployment

Gokhan Ergocun   | 24.01.2020
Euro area GDP to grow 1.1% in 2020: ECB survey

ISTANBUL

A European Central Bank (ECB) survey showed that the eurozone's GDP will grow 1.1% this year.

The rate will be 1.2% and 1.3% for the following two years, respectively, according to the ECB's Survey of Professional Forecasters, released on Friday.

Euro area GDP grew 1.9% in 2018, and 2019 figures will be published this March.

The survey also expected that the inflation rate will stand at 1.2% in 2020, 1.4% in 2021 and 1.5% in 2022.

The inflation rate was 1.2% in 2019 and 1.8% in 2018 in the euro area.

The unemployment rate is forecasted to stand at 7.5% this year, 7.4% next year and 7.3% in 2022, the survey showed.

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