The European Commission has downgraded the growth forecast for the euro area, warning of “a protracted period of subdued growth and low inflation in the context of high uncertainty.”
Gross domestic product is forecast to expand by 1.1 percent in 2019 and by 1.2 percent in 2020 and 2021. This is down by 0.1 percentage points for 2019 and 0.2 percentage points for 2020 compared with its projections in July.
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