Challenging road ahead: EU cuts economic growth rate all the way through 2021 ...News

The European Commission has downgraded the growth forecast for the euro area, warning of “a protracted period of subdued growth and low inflation in the context of high uncertainty.” Gross domestic product is forecast to expand by 1.1 percent in 2019 and by 1.2 percent in 2020 and 2021. This is down by 0.1 percentage points for 2019 and 0.2 percentage points for 2020 compared with its projections in July. Bruising trade wars, a slowing global economy, and a looming Brexit have combined to hit nearly every sector of the economy, said the commission. The European economy is in its seventh consecutive year of expansion, but the bloc now “

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