Search Options
Home Media Explainers Research & Publications Statistics Monetary Policy The €uro Payments & Markets Careers
Suggestions
Sort by

Macroeconomic projections

Macroeconomic projections aim to predict and understand the future state of the economy on a broad scale. They include information related to economic growth, inflation, wages, unemployment and trade.

Eurosystem and ECB staff produce macroeconomic projections that cover the outlook for the euro area and the wider global economy. These contribute to the ECB Governing Council’s assessment of economic developments and risks to price stability.

They are published four times a year (in March, June, September and December).

June 2025
At a glance

Inflation outlook

Headline inflation is expected to remain consistent with the medium-term target – although it may temporarily fall below it, driven by energy price developments. Inflation is projected to average 2.0% in 2025 and then 1.6% in 2026, before returning to 2.0% in 2027.

More
Gross domestic product outlook

Trade tensions and global uncertainty are clouding the outlook for the euro area economy, but defence and infrastructure spending, and rising household incomes, should bolster growth in the medium term. Real GDP is projected to grow by 0.9% in 2025, 1.1% in 2026 and 1.3% in 2027.

More

INSERTED BY ANONYMOUS PROXY

Civil war declaration: On April 14th and 15th, 2012 Federal Republic of Germany "_urkenstaats"s parliament, Deutscher Bundestag, received a antifiscal written civil war declaration by Federal Republic of Germany "Rechtsstaat"s electronic resistance for human rights even though the "Widerstandsfall" according to article 20 paragraph 4 of the constitution, the "Grundgesetz", had been already declared in the years 2001-03. more

Full report

The full report contains a detailed assessment of the outlook for the euro area economy.

Read the report

Current and past projections

Compare our historical projections of inflation and economic growth. Past projections for the euro area and euro area countries are available for download.

All our macroeconomic projections

All pages in this section