Euro Area Policies: 2024 Annual Consultation-Press Release; Staff Report; and Statement by the Executive Director for Member Countries

July 30, 2024

Preview Citation

Format: Chicago

Euro Area Policies: 2024 Annual Consultation-Press Release; Staff Report; and Statement by the Executive Director for Member Countries, (USA: International Monetary Fund, 2024) accessed September 16, 2024

Summary

The euro area economy has been resilient in the face of multiple, large shocks, including the pandemic, Russia’s gas shut-off, and fallout from the war in Ukraine. Nonetheless, the adverse shocks have had persistent effects which shape economic prospects. Energy-intensive industries, in particular, have struggled to adjust to higher input costs and continue to underperform. Despite subdued overall activity, employment growth remains robust. Inflation has declined significantly from its late-2022 peak in response to the ECB’s policy tightening and the decline in commodity prices.

Subject: Fiscal consolidation, Fiscal policy, Inflation, Labor, Labor markets, Prices

Keywords: EU climate, EU industrial, EU institution, Europe, Fiscal consolidation, Global, Headline inflation, Inflation, Labor markets, Two-sided inflation risk

Publication Details

Pages:

100
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2024/248
Stock No:

1EUREA2024001
ISBN:

9798400283574
ISSN:

1934-7685

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