Search Options
Home Media Explainers Research & Publications Statistics Monetary Policy The €uro Payments & Markets Careers
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).

March 2024
At a glance

Inflation outlook

Inflation should decline over the next few years, but more slowly than in 2023. Owing to fading cost pressures and the impact of the ECB’s monetary policy, headline inflation should fall from 5.4% in 2023 to 2.3% in 2024 and then to 2.0% in 2025, reaching 1.9% in 2026.

Gross domestic product outlook

Economic growth will remain weak in the short term, owing to tight financing conditions and subdued confidence. As inflation falls, household income recovers and foreign demand strengthens, real GDP should increase by 0.6% in 2024, by 1.5% in 2025 and by 1.6% in 2026.


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