Research Detail

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.

Download PDF (226kB)

General information

Author	Ceska Sporitelna Research
Date	2024/03/13
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	-
Download

INFORMATION FOR PRIVATE CLIENTS / CONSUMERS

Any information, material and services regarding financial instruments and securities provided by Erste Group Bank AG or any of its affiliates (collectively “Erste Group“) on this and any linked website hereafter (jointly the “Websites”) shall be exclusively to investors who are not subject to any legal sale or purchase restrictions (the “Interested Party“).

The publication and distribution of information as well as offering and selling of products and services described on the Websites is prohibited by law in some jurisdictions. For this reason, persons in countries in which the publication as well as the offering and selling of products and services described on the Websites are not permitted by law, must not enter the Websites and/or acquire the products displayed on the Websites.

Neither Erste Group nor any third party shall offer access to the Websites or offer the products to especially, but not limited to citizen/residents of the United States and “U.S. person” (as defined in Regulation S under the US Securities Act 1933 as amended). For this reason, the distribution or redistribution of the information, materials and products into United States or into any other jurisdiction where it is not permitted under the applicable law, as well as to the citizens/residents of these countries shall be prohibited. The securities displayed on the Websites have not been and will not be registered under the US Securities Act of 1933 and trading in the securities has not been approved for purposes of the US Commodities Exchange Act of 1936. For this reason the securities may, inter alia, not be offered, sold or delivered within the United States or, for the account and benefit of U.S. persons.

The Interested Party is solely responsible to examine, whether he may enter the Websites under the law applicable to it. Erste Group shall not be responsible for the distribution of content of any of the Websites to individuals or entities which provide false information about their right to enter the Websites. For this reason Erste Group shall not be liable for any legal claims or damages which may result from the unauthorized entering or reading of the Websites.

By agreeing to this hereto, the Interested Party confirms that
(i) It has read, understood and accepted this Information and the Disclaimer;
(ii) It informed itself about any possible legal restriction and warrants that it is not restricted or prohibited to enter the Websites according to any law applicable; and
(iii) It does not make available the contents of the Websites to any person who is not qualified by law to enter the Websites.