Mexican Media Brands
EC Cuts Eurozone Growth Outlook
The European Commission has chopped its 2013 forecast for the eurozone economy to a scant 0.1% expansion from its previous prediction of 1% growth.
#economics
Share
The European Commission has chopped its 2013 forecast for the eurozone economy to a scant 0.1% expansion from its previous prediction of 1% growth.
Eurozone unemployment, now at 11.9%, is likely to peak at 12% next year, the EC estimates.
The commission now expects the broader EU economy to grow just 0.4% next year compared with the 1.3% increase it previously predicted. The EC also slashed its 2013 projection of 1.7% expansion in the U.K. and Germany next year to 0.9% and 0.8% growth, respectively.
For the current year, the group forecasts eurozone contraction of 0.4%, 0.1 point worse than its previous outlook. It expects the EU economy to shrink 0.3% instead of remaining unchanged from 2011.
RELATED CONTENT
-
On Urban Transport, the Jeep Grand Wagoneer, Lamborghini and more
Why electric pods may be the future of urban transport, the amazing Jeep Grand Wagoneer, Lamborghini is a green pioneer, LMC on capacity utilization, an aluminum study gives the nod to. . .aluminum, and why McLaren is working with TUMI.
-
On Quantum Navigation, EVs, Auto Industry Sales and more
Sandia’s quantum navi, three things about EVs, transporting iron ore in an EV during the winter, going underwater in an EV (OK, it is a sub), state of the UK auto industry (sad), why the Big Three likes Big Vehicles, and the future of logistics.
-
On Headlights, Tesla's Autopilot, VW's Electric Activities and More
Seeing better when driving at night, understanding the limits of “Autopilot,” Volkswagen’s electric activities, and more.