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2024/03/13 / Ceska Sporitelna Research

EU News Monthly March 2024

The head of the European Commission, Ursula von der Leyen, announced that the Commission will develop a strategy on how the EU should invest in defence and strengthen the arms industry.

Following subdued growth last year, the EU economy has entered 2024 on a weaker footing than expected. The European Commission's Winter Interim Forecast revises growth in both the EU and the euro area down to 0.5% in 2023, from 0.6% projected in the Autumn Forecast. Inflation is set to slow down faster than projected in the autumn.

In 2023, the EU trade in goods deficit with China stood at €291 billion, which was €106 billion lower when compared with 2022 (-27%). In 2023, China was the largest partner for EU imports of goods (20.5% of total extra-EU imports) and was the third largest partner for EU exports of goods (8.8% of total extra-EU exports)

European automotive battery maker Automotive Cells Company, owned by Stellantis, Mercedes and TotalEnergies, has raised 4.4 billion euros from banks to finance three new plants in France, Germany and Italy. One of the company's plants in France opened last year and is already producing lithium-ion batteries.

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General information

AuthorCeska Sporitelna Research
Product nameEU News Monthly
Topic in focusFX, Macro/ Fixed income
Economy in focusCzech Republic
Currency in focusCzech Koruna
Sector in focus-