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EC Raises Growth Forecasts
The European Commission now says the economy of the 18-member eurozone will grow 1.2% this year and 1.8% in 2015.
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The European Commission now says the economy of the 18-member eurozone will grow 1.2% this year and 1.8% in 2015.
The EC also forecasts the economy of the larger EU28 region will expand 1.5% in 2014 and 2.0% next year. All four estimates are 0.1% greater than the commission predicted in November.
The EC anticipates the eurozone's record-high 12% unemployment rate won't change this year and will decline only to 11.7% in 2015.
The region's government debt level will stabilize this year at about 95% of gross domestic product before beginning to shrink slightly next year, according to the commission. It also expects the eurozone's inflation rate, which was only 0.8% in January, will average 1% this year and 1.3% in 2015.
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