In its latest Summer Economic Forecasts, the European Commission lowered the 2020 GDP growth forecasts for Eurozone, in the face of uncertainty over the US trade policy.
Key Details:
EU Commission lowers Eurozone GDP growth forecast for 2020 to 1.4% from 1.5% previously estimated, keeps outlook unchanged for 2019 at 1.2%.
EU Commission cuts Eurozone inflation forecast to 1.3% this year and next from 1.4% previously estimated for both years.
EU Commission sees uncertainty over US trade policy as a major risk for the European economy.
EU Commission keeps unchanged UK GDP growth forecast at 1.3% in 2019 and 2020.
EU Commission keeps unchanged Italy GDP growth forecast at 0.1% in 2019 and 0.7% in 2020.
EU Commission lowers Germany GDP growth forecast for 2020 to 1.4% from 1.5% estimated previously, keeps forecast unchanged at 0.5% for 2019.
EU Commission lowers France GDP growth forecast for 2020 to 1.4% from 1.5% estimated previously, keeps forecast unchanged at 1.3% for 2019.
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