Rating agency Standard & Poor’s has cut its forecasts for eurozone economic growth and inflation.
It blamed a “nosedive” in financial conditions since the start of the year.
S&P now expects gross domestic product in the 19 countries of the euro area to grow at 1.5 percent this year.
Last November its forecast was 1.8 percent.
In 2017 it is predicting expansion of just 1.6 percent.
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Source: Euronews
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