Evolution of ECB GDP and CPI Forecasts
December 4, 2008
The table below documents range forecasts made by the ECB staff in December 2007 and March, June, September, and December of this year. Forecasts for calendar 2010 were made for the first time today. The medium-term target for consumer price inflation is below but close to 2.0%.
| 12/08 | 09/08 | 06/08 | 03/08 | 12/07 | |
| GDP ’08 | 0.8-1.2% | 1.1-1.7% | 1.5-2.1% | 1.3-2.1% | 1.5-2.5% |
| GDP ’09 | -1.0-0.0% | 0.6-0.8% | 1.0-2.0% | 1.3-2.3% | 1.6-2.6% |
| GDP ’10 | 0.5-1.0% | ||||
| CPI ’08 | 3.2-3.4% | 3.4-4.6% | 3.2-3.6% | 2.6-3.2% | 2.0-3.0% |
| CPI ’09 | 1.1-1.7% | 2.3-2.9% | 1.8-3.0% | 1.5-2.7% | 1.2-2.4% |
| CPI ’10 | 1.5-2.1% |
Tags: Euro
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