EU Summer Forecasts: EU Commission slashed 2020 Eurozone GDP growth forecast

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 Euro zone GDP growth forecast for 2020 to 1.4% from 1.5% previously estimated, keeps outlook unchanged for 2019 at 1.2%.

European commission cuts Euro zone 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.