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EC Cuts Eurozone Economic Forecast through 2016
The European Commission has lowered its forecast for economic expansion in the eurozone this year to 0.8% from its previous estimate of 1.2% growth.
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The European Commission has lowered its forecast for economic expansion in the eurozone this year to 0.8% from its previous estimate of 1.2% growth.
The EC also dropped its growth projection for 2015 to 1.1% from 1.7%. The commission now says the eurozone is not likely to achieve 1.7% growth until 2016.
High unemployment and slow growth will continue through next year, the EC says. It cautions that any worsening of France's weak economy could further dampen eurozone growth.
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