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European Economic Forecast Winter 2013

Among the largest Member States outside the euro area, the United Kingdom is expected to see an improvement in disposable incomes and financing conditions, which should allow a gradual return of domestic demand growth in 2013 and an acceleration in 2014. For Poland, a deceleration from previous growth rates is projected as external headwinds and the stagnation in the labour market take their toll. The adjustment of the remaining imbalances is subject to a number of challenging interdependencies such as the feedback loop between banks and sovereigns, the impact on domestic. | European Commission European Economic Forecast Winter 2013 EUROPEAN ECONOMY 1 2013 The European Economy series contains important reports and communications from the Commission to the Council and the Parliament on the economic situation and developments such as the European economic forecasts and the Public finances in EMU report. Unless otherwise indicated the texts are published under the responsibility of the Directorate-General for Economic and Financial Affairs of the European Commission to which enquiries other than those related to sales and subscriptions should be addressed. Legal notice Neither the European Commission nor any person acting on its behalf may be held responsible for the use which may be made of the information contained in this publication or for any errors which despite careful preparation and checking may appear. More information on the European Union is available on the Internet http europa.eu . ISBN 978-92-79-28344-4 doi 10.2765 3931 European Union 2013 Reproduction is authorised provided the source is acknowledged. European Commission Directorate-General for Economic and Financial Affairs COMMISSION STAFF WORKING DOCUMENT European Economic Forecast Winter 2013 EUROPEAN ECONOMY 1 .