The Directorate-General for Economic and Financial Affairs (DG ECFIN) produces detailed economic forecasts for the European Commission. These forecasts focus on the EU, its individual member states and the eurozone, but also include projections for other important economic areas as well as countries seeking to join the EU. The forecasts are published three times a year, in spring, autumn and winter.
These forecasts serve as a basis for different monitoring processes for the European economy – for instance within the European Semester. In this context the EU member states coordinate their economic and fiscal policy.
The adoption of the Annual Growth Survey initiates the European Semester and thus the coordination of economic and budget policies. The Annual Growth Survey outlines what more can be done at EU level to help member states return to higher growth rates.
Further information: ec.europa.eu
In addition to this, the Macroeconomic Imbalance Procedure (MIP) aims to identify and prevent negative developments at the macro-economic level. It is triggered by the European Commission’s Alert Mechanism Report.