The European Commission is known for being circumspect when forecasting the economic prospects of EU member countries. In fact, it is a great fan of using words like “moderate,” “muted,” and “gradual” in its assessments. But in 2017, the forecasters perked up, announcing the start of a long-awaited economic recovery across much of the EU (the word “brightening” even made an appearance).
The European Commission is known for being circumspect when forecasting the economic prospects of EU member countries. In fact, it is a great fan of using words like “moderate,” “muted,” and “gradual” in its assessments. But in 2017, the forecasters perked up, announcing the start of a long-awaited economic recovery across much of the EU (the word “brightening” even made an appearance).
It now appears that recovery has already come and gone.
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After anticipating strong growth rates and an economic expansion in Europe for 2017, the commission’s latest economic forecast, published today, announced a slowdown in growth amid a tense global economic environment.
As Quartz has previously written, you don’t need to read the entire 220-page forecast report to get the gist of how things are going. The forecasts are published three times a year, pegged to the European Semester schedule, and are given a pithy title that basically sums up what’s inside. As you can see, titles basically follow a pattern of mild optimism followed by extreme hedging, with the occasional nautical metaphor.
The evolution of those titles in recent years tracks a decade-long slump followed by a short-lived, anti-climatic burst of economic activity:
