Mexican Media Brands
Central Bank Slashes Eurozone Economic Forecast
The European Central Bank has revised downward its 2013 outlook for the eurozone economy to 0.3% contraction from its previous forecast of 0.5% growth.
#economics
Share
The European Central Bank has revised downward its 2013 outlook for the eurozone economy to 0.3% contraction from its previous forecast of 0.5% growth.
The ECB predicts the gross domestic product of the 17-country bloc will expand between 0.2% and 2.2% in 2014.
The central bank expects the region's economy to shrink 0.5% this year, 0.1 point worse than its earlier projection.
"Persistent uncertainty" is weighing on consumer and business confidence, according to the ECB. It cites Europe's continuing sovereign debt crisis, geopolitical issues and U.S. fiscal policy.
RELATED CONTENT
-
Report Forecasts Huge Economic Upside for Self-Driving EVs
Widespread adoption of autonomous electric vehicles could provide $800 billion in annual social and economic benefits in the U.S. by 2050, according to a new report.
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.
-
VW Warns of Higher Costs to Develop EVs
CEO Herbert Diess says the €20 billion ($23 billion) Volkswagen AG has budgeted to electrify its entire vehicle lineup won’t be enough to meet that goal.