Europe & Russia: Economic overview
The forecast for growth in the eurozone has improved while the UK’s economic outlook has weakened.
The eurozone’s GDP is expected to expand by 2.2% this year and by 1.8% next year, according to the latest outlook from the European Central Bank. The growth of the labour market and improving domestic demand are expected to support economic expansion in the region. Although the demand for gas has been rising in some of the region’s largest markets in recent months, much of this has been weather related. Strong economic growth will boost gas offtake, but policies will be required to support demand levels in the short term.