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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 2024
At a glance

Inflation outlook

Inflation is projected to move broadly sideways in the near term before returning to target as cost pressures ease and the impact of past monetary policy decisions gradually feeds through to consumer prices.

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Gross domestic product outlook

Economic growth will be supported by rising household incomes, a resilient labour market, increasing confidence and stronger foreign demand, while financing conditions will be less of a constraint.

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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

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