European Commission forecasts deeper slump amid 'more pronounced' economic divergences

Market news

7 July 2020

European Commission forecasts deeper slump amid 'more pronounced' economic divergences

EU now sees 2020 GDP at -8.7% vs -7.7% back in the May forecast
Euro area economy probably shrank by 13.5% in Q2
There are 'several' risks to the economic outlook, tilted to the downside
Economic recovery will be uneven across member states
Euro area economic divergences are 'more pronounced'
German economy likely to shrink by 6.3% in 2020
Spain, France, Italy economies likely to shrink by more than 10% in 2020

China's June forex reserves rise to $3.112 trillion

Fed’s Bostic sees signs that economic activity is leveling off

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