The European Union tempered its growth forecast for the eurozone on
Thursday, citing China's economic slowdown and weak demand for European
exports in emerging markets.
The economy of the 19-member bloc would grow at a rate of 1.8 percent in 2016, a reduction of 0.1 percent, the EU said.
Growth in Germany and other eurozone heavyweights would be the strongest, with Europe's largest economy set to expand by 1.7 percent by the end of this year and 1.9 percent in each of the coming two years.
Greece, on the other hand, will have a harder time rebounding from its near bankruptcy and the difficulties facing its cash-strapped banks. In 2015, the Hellenic economy was expected to shrink by 1.4 percent. Next year will see a slightly smaller contraction of 1.3 percent.
Read more: Eurozone recovery will be ′moderate′ in 2016 | Business | DW.COM | 05.11.2015
The economy of the 19-member bloc would grow at a rate of 1.8 percent in 2016, a reduction of 0.1 percent, the EU said.
Growth in Germany and other eurozone heavyweights would be the strongest, with Europe's largest economy set to expand by 1.7 percent by the end of this year and 1.9 percent in each of the coming two years.
Greece, on the other hand, will have a harder time rebounding from its near bankruptcy and the difficulties facing its cash-strapped banks. In 2015, the Hellenic economy was expected to shrink by 1.4 percent. Next year will see a slightly smaller contraction of 1.3 percent.
Read more: Eurozone recovery will be ′moderate′ in 2016 | Business | DW.COM | 05.11.2015
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