Prospects for the euro-area in 2023

Subject

Prospects for the euro-area in 2023.

Significance

Economic growth across the euro-area will remain weak throughout 2023, with some countries likely to go into recession. Given the multitude of factors causing the economic downturn, including the fallout from the war in Ukraine, the policy response to COVID-19 and shortages of key components and raw materials across global value chains, there is no easy fix for policymakers to alleviate the crisis.