Macro - Country Economic Forecasts - Eurozone

Macro - Country Economic Forecasts - Eurozone

We have maintained our call for a feeble H2 of this year for the eurozone and expect GDP to grow by just 0.5% in 2023 and 0.8% in 2024. Recent data show the European economy has stagnated and lacks clear engines of growth. We estimate Q3 GDP likely contracted marginally, driven mainly by subdued activity in Germany and Italy.