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17th Mar 2022 00:10Eurozone, Daily Monitor

  • A gradual increase in EZ defence outlays to 2% of GDP would triple spending between now and 2033.
  • We reckon such a shift would lift annual GDP growth by around 0.3pp over the next decade…
  • …But any near-term boost likely will be overwhelmed by higher inflation, crowding out private demand.

commodities defence education employment energy eu euro euro area ez gdp france gdp growth germany government imports inflation pressures italy job creation labour labour force labour market May nominal gdp nominal gdp growth policy ppi PPI inflation public sector smes spain spending growth u.s.

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Keywords for: What will Europe's New Defence Spending Plans Mean for Growth?

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