Eurozone 2019 GDP growth 1.2% (unchanged)
Eurozone 2020 GDP growth 1.4% (previously 1.5%)
Eurozone 2019 inflation seen at 1.3% (previously 1.4%)
Germany 2019 GDP growth 0.5% (unchanged)
Germany 2020 GDP growth 1.4% (previously 1.5%)
France 2019 GDP growth 1.3% (unchanged)
France 2020 GDP growth 1.4% (previously 1.5%)
Italy 2019 GDP growth 0.1% (unchanged)
Italy 2020 GDP growth 0.7% (unchanged)
The Commission lowered its eurozone growth and inflation forecast for next year, citing trade strains and political uncertainty, in what will undoubtedly reinforce the ECB's intentions for further stimulus during the year. Furthermore, the risk of Brexit still remains in the face, suggesting additional uncertainty about the block.
It certainly does not paint a beautiful picture two weeks before the Central Bank meeting on July 25th and reinforces the fears that the European economy will continue to experience difficulties in the second half of the year instead of recovering.
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