On 22 February, the European Commission published its Winter Forecast 2012-2014 saying that by 2014 domestic demand is expected to take over as the main driver of strengthening EU GDP growth.
According to the Forecast, leading indicators suggest that EU’s GDP is now bottoming out and the Commission expects an acceleration of economic activity. Growth will initially be driven by exports, while domestic investment and consumption are expected to recover later in the year.
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