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2022/08/05 / Ceska Sporitelna Research

EU News Monthly August 2022

The Summer 2022 (interim) Economic Forecast projects that the EU economy will grow by 2.7% in 2022 and 1.5% in 2023. Annual average inflation is projected to peak at historical highs in 2022, at 8.3% in the EU, before easing in 2023 to 4.6%.

EU annual inflation was 9.6% in June 2022, up from 8.8% in May. A year earlier, the rate was 2.2%. The lowest annual rates were registered in Malta (6.1%) and France (6.5%). The highest annual rates were recorded in Estonia (22.0%) and Lithuania (20.5%). Compared with May, annual inflation fell in two Member States and rose in twenty-five.

Volkswagen Group CEO Herbert Diess has announced that he will be leaving his position on 1 September. He is to be replaced by the current head of Porsche, Oliver Blume.

The automaker Volvo Cars will build a plant for the production of electric cars near Košice in eastern Slovakia. The investment will reach 1.2 billion euros, a fifth of which is expected to be state support.

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General information

AuthorCeska Sporitelna Research
Date2022/08/05
Languageen
Product nameEU News Monthly
Topic in focusFX, Macro/ Fixed income
Economy in focusCzech Republic
Currency in focusCzech Koruna
Sector in focus-
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