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The new forecast of the European Commission suggests that in 2019, the eurozone economy will increase by 1.2%, whereas, according to its February forecast, a rise of 1.3% was expected. The report notes that uncertainty persists in global markets, and this was the main reason for the deterioration of the forecast. The European Commission also downgraded the estimate for eurozone GDP growth for the following year from 1.6% to 1.5%. According to the new forecast, inflation in 2019 and 2020 will not reach the target of the European Central Bank and will be only 1.4%. The growth forecast for EU countries is also downgraded. It is expected that the EU economy this year will grow by 1.4%, and not by 1.5%, as was predicted earlier. In 2020, growth will accelerate to 1.6%, whereas previously a rise of 1.8% was expected. The European Commission considered the main risks for the world economy to be the consequences of protectionist policies in foreign trade, the global slowdown in economic growth and the continuing uncertainty regarding Brexit.
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
On Thursday, the United States’ Gross Domestic Product (GDP) suffered the biggest economic decline in the second quarter as the surge of coronavirus cases affected the whole country. The U.S. government decided to shut down restaurants, ...
Thailand's finance ministry on Thursday cut back its 2020 economic forecast to a record 8.5% contraction in GDP. This is a substantial contrast from a 2.8% growth it expected in January as the COVID-19 situation continued to worsen. The ministry’s ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
On Wednesday, European stocks rose slightly after mixed earnings reports. However, the new wave of the coronavirus outbreak kept investors cautious while they also wait for the U.S. Federal Reserve’s announcement. The Stoxx Europe 600 ...
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