Eurozone Quarterly: Leaving the pandemic behind

Germany: Rising like a phoenix

From recession candidate to growth champion. Once the economy ends its period of hibernation, it could become Europe's growth champion over the next…

France: Solid rebound and moderate inflation bode well for Macron’s…

The economic rebound in France was dynamic in 2021, albeit uneven, and should continue in 2022, with inflation remaining more moderate than elsewhere in…

Italy: Soft start to 2022 on inflation headwinds

The inflation story will likely be a short-term drag on economic growth and put fiscal policy to the test

Spain: Tourism and employment boom puts economy back on track

The first quarter of 2022 will be impacted by the Omicron wave, but from the second quarter onwards we expect the economy to grow faster again. A strong…

Netherlands: Economic growth relies on the absence of new lockdowns

Now that the lockdown has been eased, consumption is rebounding, allowing the Dutch economy to continue its expansion. GDP is forecast to grow by 3.3% in…

Belgium: Same challenges, but more serious

Belgium was one of the countries most affected by the pandemic and is facing two other problems more than others: inflation and (public) debt

Austria: Compulsory vaccination to supercharge the economy

2021 ended on a turbulent note for Austria, both economically and politically. Now, compulsory vaccination might be the game changer and with the return…

Greece: What next after the V-shaped rebound?

After a very strong consumption-driven rebound in 2021, the Greek economy will move towards a new normal, where investment will gain a more visible role,…

Portugal: Political stability to support economic growth in 2022

We expect the Portuguese economy to continue to grow at a firm rate in 2022. A strong labour market, lower political uncertainty, and a fiscal boost from…

Ireland's economic recovery is not as strong as data suggests

Ireland's GDP figure inflates its economic performance, but underlying data reveals a healthy recovery that shouldn’t be by a reduction in asset…

Finland's recovery on par with Nordic neighbours

The Finnish economy has recovered quickly from the crisis, but growth is muted as rebound effects fade and shortages bite