IMF Raises Europe's 2018 GDP Growth Projection By 0.3 To 2.3% - Report

The International Monetary Fund (IMF) raised the 2018 growth target for Europe's gross domestic product (GDP) to 2.3 percent, the Fund's Regional Economic Outlook revealed on Thursday.

WASHINGTON (UrduPoint News / Sputnik - 08th November, 2018) The International Monetary Fund (IMF) raised the 2018 growth target for Europe's gross domestic product (GDP) to 2.3 percent, the Fund's Regional Economic Outlook revealed on Thursday.

In October, the IMF lowered its forecast for the Eurozone growth to 2.0 percent in 2018 and 1.9 percent in 2019.

"Real GDP growth in Europe is expected to moderate from 2.8 percent in 2017 to 2.3 percent in 2018 and 1.

9 percent in 2019, but to remain above potential in most countries in the region," the report said.

Domestic demand, the report said, "will continue to be the main engine of growth, supported by rising employment and wages."

Growth, according to the report, has been revised downward in about half of the countries compared with projections in the May outlook. The downward revisions are mainly driven by weaker external demand and higher energy prices, the report added.