EU slashes eurozone growth forecast on US trade war tensions | 2018-07-13 | daily-sun.com

EU slashes eurozone growth forecast on US trade war tensions

    12th July, 2018 09:52:34 printer

BRUSSELS: The EU on Thursday slashed its growth forecast for the eurozone in 2018, warning that the rising trade tensions with the United States were hitting the economy.

The European Commission, the EU's executive arm, said the 19-country single currency bloc would expand by 2.1 percent in 2018, lower than the 2.3 percent forecast just weeks ago in early May, reports AFP.

"Our forecast is for a continued expansion in 2018 and 2019, although a further escalation of protectionist measures is a clear downside risk," said EU Economic Affairs Commissioner Pierre Moscovici in a statement.


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