EU forecast: moderate growth is expected in the European economy

According to the European Commission’s (EC) Winter Economic Forecast, the European economy will continue to grow in 2019, as expected in the last seven years, and performance is expected to increase in all Member States, although the pace of growth is expected to be more moderate, due to global uncertainty.

Pierre Moscovici, Commissioner for Economic and Financial Affairs and Taxation and Customs, said that the European economy is expected to grow by 1.5 percent this year. Due to global trade uncertainties and domestic factors affecting the largest EU economies, the slowdown will be stronger than predicted last autumn, especially in the euro area. (MTI)