EU Cuts Growth Forecasts for the Euro Zone on Global Trade Tensions

 

• The EU slashed its growth forecasts for the eurozone Thursday, saying global trade tensions are set to weigh on the region and limit economic expansion.
• The warning from the EU’s executive arm comes at a time when the ECB has started a new round of stimulus to prop up fragile growth.
• The 19-member region is now set to grow at a pace of 1.1% this year and 1.2% in 2020. In its previous forecasts, out in May, the European Commission had estimated a 1.2% growth rate for the euro zone in 2019 and 1.5% for 2020.

 (Source: CNBC)