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Eurozone growth forecast cut to 1.6pc for 2016

Eurozone growth forecast cut to 1.6pc for 2016

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BRUSSELS: The EU cut Tuesday its eurozone growth forecasts for this year, warning that global risks including the slowdown in China and the danger of Britain leaving the bloc were harming economic recovery.
Warning of increased global risks for the 19-country single currency area as it continues its sluggish recovery, the European Commission trimmed its 2016 forecast to 1.6 percent from 1.7 percent, reports AFP.
The commission also said, however, that the eurozone would likely grow by 1.8 percent next year, instead of the earlier forecast 1.7 percent.
But the EU warned that “substantial uncertainty surrounds this forecast”.