Research Detail
| 2023/06/06 / Ceska Sporitelna Research |
EU News Monthly June 2023 The European economy continues to show resilience in a challenging global environment. Lower energy prices, abating supply constraints, and a strong labor market supported moderate growth in the first quarter of 2023, dispelling fears of a recession. EU GDP growth is revised up to 1.0% in 2023 (from 0.8%) and 1.7% in 2024 (from 1.6%). Turkish President Recep Tayyip Erdoğan has won the second round of the presidential election, taking 52.1% of the vote to defeat opposition leader Kemal Kiliçdaroğlu. Swedish company Northvolt will build a large battery plant in Germany. The facility is expected to be able to produce batteries for around one million electric vehicles per year. Annual inflation in the EU was 8.1% in April 2023, down from 8.3% in March. A year earlier, the rate was 8.1%. The lowest annual rates were registered in Luxembourg (2.7%) and Belgium (3.3%). The highest annual rates were recorded in Hungary (24.5%), Latvia (15.0%) and Czechia (14.3%). |
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General information
| Author | Ceska Sporitelna Research |
| Date | 2023/06/06 |
| Language |  |
| Product name | EU News Monthly |
| Topic in focus | FX, Macro/ Fixed income |
| Economy in focus | Czech Republic |
| Currency in focus | Czech Koruna |
| Sector in focus | - |
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