Euro Area Business Cycle Dating Committee Releases 2017 Findings
The Committee releases its new findings on 7 August 2017. Its main conclusion is that since the last trough in 2013Q1, the euro area has been recovering at a slow but steady pace. This post-recession recovery is commensurate with that of the US recovery, considering it began later, after the double-dip European recession that followed the global financial crisis.
- The economic expansion that started after the 2013Q1 trough (see October 2015 findings) is carrying on.
- In 17 quarters of economic recovery the euro area has seen a weak but persistent GDP recovery of 7.03%.
- Euro area employment has expanded at the fastest rate in this period when compared to all previous euro area recoveries.
- Despite being slow by its own historical standards, the post-recession recovery of the euro area is commensurate with that of the US considering that it began later, after the double-dip European recession that followed the global financial crisis.