Macroeconomic Dialogue: EU must act now to avoid the ‘slow agony’ of stagnation |
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| On 4 November, the Macroeconomic Dialogue brought together European social partners and high-level representatives from the European Central Bank (ECB) and EU institutions to exchange views on the economic landscape and the way forward. Participants included ECB President Christine Lagarde, Eurogroup President Donohoe, European Commission Executive Vice-President Valdis Dombrovskis, and Ministers of Finance Mihály Varga (HU) and Andrzej Domański (POL). |
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| Presenting our latest Economic Outlook, Director General Markus J. Beyrer highlighted a worrying trend: the EU's economic momentum has markedly slowed in recent years. Between Q2 2022 and Q2 2024, the EU economy grew by only 1.2%, with eleven member states experiencing below-average growth and seven facing economic contraction. According to our projections, the EU economy will grow by a modest 0.9% in 2024 and 1.3% in 2025. |
| “Achieving our ambitions on sustainability, social progress, and higher living standards depends on a strong economic foundation,” Beyrer underscored. He stressed that coordinated EU policy action and a renewed focus on competitiveness are essential for overcoming current challenges. Priority areas for the business community include tackling structurally high energy costs, reducing regulatory burdens, revitalising the Single Market, and empowering European startups to scale and compete globally. Read our full Economic Outlook for more insights. |
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U.S. elections: The Transatlantic relationship is vital for Europe and the United States |
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| Congratulating Donald Trump on his election as President of the United States, our President Fredrik Persson emphasised the need to strengthen and safeguard the transatlantic partnership through open dialogue and a forward-looking agenda for cooperation. "BusinessEurope is ready to engage with the new U.S. Administration and work on concrete solutions that can drive economic growth, investment, and jobs on both sides of the Atlantic”, he stated. With EU investment in the USA totalling $2.4 trillion and our companies supporting over 3.4 million American jobs, the EU and the USA have the largest and most integrated economic partnership in the world. |
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| | | What are the main economic challenges the EU is currently facing? Watch our Chief Economist, Lúcio Vinhas de Souza, share insights from our latest publication. |
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Over two-thirds (72%) of BusinessEurope member federations stated that they believe the business climate for industrial producers has either worsened or shown no improvement compared to six months ago.
Source: BusinessEurope Autumn Economic Outlook |
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