24th March 2022

The CEPR-EABCN Euro Area Business Cycle Dating Committee deliberated on the 14th of March 2022 to assess the state of euro area economic activity. Real GDP returned to its pre-pandemic level in the final quarter of 2021, despite supply constraints, stringent pandemic restrictions due to the third COVID wave and higher energy prices. Investment and private consumption were important components of recovery, as was government consumption. 

Findings ] / [ Press release ]