European Leading Indicators | Innovation sectors to drive EU economic growth
23 July 2024
Here we look at the European leading indicators in the world of economics.
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Key insights:
Eurozone 2024 economic growth outlook revised upwards
The international Monetary Fund (IMF) revised its 2024 GDP growth outlook for the Eurozone slightly upwards to 0.9%, driven by stronger momentum in services and higher-than-expected net exports in H1 2024. Growth is forecast to rise by 1.5% in 2025.
European CRE investment relatively muted but some markets start to see recovery
According to preliminary MSCI RCA figures, European CRE investment in the first half of 2024 was ca. 10% lower than in the same period last year. However, some markets, including Spain, Italy, the Netherlands, and Denmark, saw volumes, outperform last year's in H1 2024.
Innovation sectors set to drive economic growth
The innovation sectors, driven by the rise in AI and bio-sciences amongst others will add an estimated €302 billion to the EU economy, by 2030, according to Oxford Economics. Innovation also drives productivity and attracts the population needed for resilient CRE markets.
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