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Macroeconomics  |  August 10, 2012 10:09:00

Forecasters ECB euro area worsened outlook

Intensification of fiscal consolidation in some euro area countries and a large uncertainty about the resolution of debt crises are the key factors that worsen the outlook for growth, forecasters said the survey results published by the European Central Bank in the monthly newsletter. Estimated GDP growth for 2012 was revised downwards by 0.1% to -0.3% in 2013 and decreased significantly by 0.4% to 0.6%. The prevailing downside risks stem primarily from the perspective escalating debt crisis. At the bottom of the risk is loss of confidence, higher levels of uncertainty and weak external demand due to slowing global economy. On top of the risks and possible weakening of the euro recovery in exports. Unemployment will rise this year to 11.2% in 2013 to 11.4%, which is an upward revision of 0.2%, respectively. by 0.5% compared to the previous projection of SPF.Only in 2014 the unemployment rate should fall to 10.8%. Risks to price developments over the medium term remain broadly balanced. In 2013 inflation likely to fall to 1.7% from 2.3% this year. The estimate for this year would be left unchanged for 2013 decreased by 0.1%.

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Prognostici ECB zhoršili výhled eurozóny

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