EU cuts economic forecast for 2019

CNC
Added On February 9, 2019

The European Union has cut its economic forecast for Eurozone growth for 2019.
 
On Thursday, the European Commission slashed its forecast for eurozone economic growth this year to 1.3 percent from the previous 1.9 percent.
 
The forecast for growth was tuned down, in particular for Germany, Italy, France and the Netherlands.
 
According to estimates, Italy will experience the slowest growth with a mere 0.2 percent growth rate this year.
 
SOUNDBITE(ENGLISH): PUERRE MOSCOVICI, European Commission:
“Italy fell into technical recession in the second half of last year, as the impact of less dynamic world trade was compounded by sluggish domestic demand, particularly investment.”
 
The European economy is expected to grow for a seventh year in a row but growth will slow due to global uncertainties, such as trade tensions, mounting public debt and a slowdown in emerging markets.