EU Cuts Euro-Zone Outlook as German Economic Woes Deepen
- Commission sees economy expanding 0.8% in 2023 vs 1.1% before
- Figures offers hint on ECB projections shaping rate decision
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The European Commission cut its outlook for the euro-area economy, predicting it will be dragged down this year by a contraction in Germany.
Output in the 20-nation currency bloc will rise by 0.8% in 2023, compared with an earlier forecast for 1.1% growth, according to updated projections published Monday by the European Union’s executive arm. Next year’s outlook was lowered by the same amount, to 1.3%.