According to Q3 ECB Survey of Professional Forecasters, average forecast for HICP inflation is 1.3% for 2019, 1.4% for 2020 and 1.5% for 2021. There were downward revisions of -0.1% for each of those years comparing with Q2 forecast. Average long-term inflation expectation was lowered from 1.8% to 1.7%.
Growth is projected to average 1.2% in 2019, 1.3% in 2020 and 1.4% in 2021. There was no change in expectation of 2019 and 2021. But 2020 figure was revised down by -0.1%. Average longer-term expectations for real GDP growth were unchanged at 1.4%.
