European Commission Spring Economic Forecasts: EZ 2020 GDP to contract 7.7% before rebounding 6.3% in 2021

EZ unemployment

• 2020: 9.6% (vs. 7.5% in 2019)
• 2021: 8.6%

EZ CPI

• 2020: 0.2% (vs. 1.2% in 2019)
• 2021: 1.1%

EZ public debt 

• 2020: 102.7% (vs. 86% in 2019)
• 2021: 98.8%

EZ aggregate budget deficit 

• 2020: 8.5% (vs. 0.6% in 2019)
• 2021: 3.5%

Country specific 2020 GDP

• France -8.2%
• Germany -6.5%
• Italy -9.5%
• Spain -9.4%
• UK -8.3%