Deflation is coming : economic perspectives for the euro area and euro area countries in 2014,2015,2016: Chapter 1
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deflation economic perspectives the euro areaCiter ce document
Xavier Timbeau et al., « Deflation is coming : economic perspectives for the euro area and euro area countries in 2014,2015,2016: Chapter 1 », Archive ouverte de Sciences Po (SPIRE), ID : 10670/1.lcpw2k
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Six years after the start of the Great Recession, the economic and socialsituation in the euro area is still depressed and fragile as shown by key macroeco-nomic indicators. Growth will not exceed 0.8% in 2014 after two consecutiveyears of recession. The risk of deflation is increasing as inflation has now beenbelow 0.5% since May 2014.Employment has improved moderately but unemployment remains at an unacceptably high level. Consequently, inequality andthe risk of poverty are increasing significantly.In short the euro area still suffers the aftermath of the crisis and has not yet engaged in a buoyant recovery.