European economy expected to grow faster than forecast

Europe’s economy is expected to grow faster than previously thought this year and next, despite high inflation and rising interest rates, according to the European Commission.

The commission said the EU’s 27 members would grow at an average of 1% in 2023, up from a previous estimate of 0.8%. It nudged its forecast for growth in 2024 to 1.7% from 1.6%.

The eurozone’s 20 members are expected to grow by 1.1% on average and 1.6% next year.

JPMorgan European Discovery Trust plc (LON:JEDT) is an investment trust company. The Investment Trust JEDT objective is to achieve capital growth from a portfolio of quoted smaller companies in Europe, excluding the United Kingdom.

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