Skip to main content

Market Overview

EU Cuts Growth Forecasts For Eurozone On Global Trade Tensions

EU Cuts Growth Forecasts For Eurozone On Global Trade Tensions

The European Commission slashed its growth forecast for the eurozone Thursday due to global trade tensions weighing on the region and limiting economic expansion.

The 19-member region is now set to grow at a pace of 1.1% this year and 1.2% in 2020, CNBC reported

“The fact that growth is no longer expected to rebound meaningfully in the next two years is a major shift compared to previous forecasts and is based on the assessment that many features of the global slowdown will be persistent,” the European Commission said Thursday in its Autumn Economic Forecasts. 

“Most importantly, the surge in trade tensions and record-high uncertainty about trade policies is likely to have inflicted lasting damage to world trade,” the Commission added.

Germany is Europe’s largest economy, and it is teetering on the edge of contraction, with growth slowing across the eurozone.

Last month, Germany released weak economic data that showed a fall in employment that was mainly the result of job losses in the manufacturing sector

Related Links:

Eurozone Slowdown: Weak October Data Shows Stagnation

As Draghi Exits ECB, More Signs Of Struggle In German Economy


Related Articles (VGK)

View Comments and Join the Discussion!

Posted-In: CNBC European CommissionNews Eurozone Economics Markets Media Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at