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EU cuts euro zone growth forecast, blames U.S. trade wars

Reuters  |  BRUSSELS 

By Francesco GuarascioBRUSSELS (Reuters) - The European Commission on Thursday cut its forecasts for the euro zone's economic growth this year, citing among the top causes for its revision trade tensions with the United States and rising oil prices which push the bloc's inflation higher.The slowdown of the euro zone economy is set to affect all major economies of the bloc, but is expected to hit Italy harder, as the country will record the lowest growth rate in Europe, matched only by Britain among all 28 EU countries.The EU executive estimated the 19-country euro zone will grow by 2.1 ...

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First Published: Thu, July 12 2018. 17:23 IST
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