In the ECB Survey of Professional Forecasters (SPF) for Q3, inflation expectations for Eurozone were revised up for 2021 and 2022. Growth projections were upgraded across the horizon while unemployment forecasts were revised down.
Inflation forecast:
- For 2021 at 1.9% (revised up from Q2 forecast at 1.6%).
- For 2022 at 1.5%, (up from 1.3%).
- For 2023 % 1.5% (unchanged).
Real GDP growth forecast:
- For 2021 at 4.7% (up from 4.2%).
- For 2022 at 4.6% (up from 4.1%).
- For 2023 at 2.1% (up from 1.9%).
Unemployment rate forecast:
- For 2021 at 8.1% (down from 8.5%).
- For 2022 at 7.8% (down from 7.8%).
- For 2023 at 7.5% (down from 7.7%).
