Europe moves on from economic “peak pessimism”
There is an upswing in positive perceptions about the region’s prospects despite ongoing challenges
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JANUARY’S 2025 World Economic Forum in Davos is sometimes seen as the moment that “peak pessimism” reigned about Europe’s future economic and political performance. Yet, fast forward to today and expectations for the region’s prospects have improved significantly since.
To be sure, Europe continues to have many challenges. However, the mood music has flipped, at a minimum, from “glass half empty” to “glass half full”.
On Thursday (June 5), for instance, the European Central Bank (ECB) is widely expected by economists to cut interest rates for what would be the eighth time in a little more than a year. This would see the ECB diverge further from the recent path of the US Federal Reserve, which has had rates on hold in 2025.
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