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Economy Watch: European View—May 2022 The Conference Board, Inc., 8 pages, August 2, 2022 Report

Economy Watch: European View—May 2022

The Conference Board, Inc., 8 pages, August 2, 2022
Report

Weak growth in Q1 and growing geopolitical tensions make Europe’s economic outlook gloomier in the second half of 2022. Document Highlights Amid high energy costs, supply disruptions, pandemic-related restrictions, and now the war in Ukraine, the Euro Area economy entered Q2 on a weak footing. Output growth increased by merely 0.3 percent in Q1 compared to the last quarter. By country, the German, Italian, and Spanish economies expanded modestly while economic growth in France dipped into negative territory. Looking ahead, The Conference Board downgraded the Euro Area’s economic growth projections for 2022 from 2.8 to 2.6 percent amid weak output growth in Q1 and growing uncertainty.

Weak growth in Q1 and growing geopolitical tensions make Europe’s economic outlook gloomier in the second half of 2022.

Document Highlights

Amid high energy costs, supply disruptions, pandemic-related restrictions, and now the war in Ukraine, the Euro Area economy entered Q2 on a weak footing. Output growth increased by merely 0.3 percent in Q1 compared to the last quarter. By country, the German, Italian, and Spanish economies expanded modestly while economic growth in France dipped into negative territory. Looking ahead, The Conference Board downgraded the Euro Area’s economic growth projections for 2022 from 2.8 to 2.6 percent amid weak output growth in Q1 and growing uncertainty.

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