Eurozone’s economic growth forecast cut due to ‘large uncertainty’ | WHAT REALLY HAPPENED

Eurozone’s economic growth forecast cut due to ‘large uncertainty’

The European Commission (EC) has slashed its growth forecast for the 19 countries that use the euro. It said even the lower estimate was vulnerable to large uncertainty from slowing growth in China and weakening global trade.

The EC is now expecting growth of 1.3 percent this year, down from 1.9 percent previously. It estimated that the eurozone could have grown by 1.9 percent last year, slowing from a 10-year high of 2.4 percent in 2017.

“A high level of uncertainty surrounds the economic outlook,” said the report. “Trade tensions, which have been weighing on sentiment for some time, have alleviated somewhat but remain a concern.”

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