European Commission lowers 2023 GDP growth forecast

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The European Commission (EC) lowered its GDP growth forecasts for both the eurozone and the European Union as a whole on November 15.

The EC autumn forecast expects the economy to expand by 0.6% in the single currency union, as well as the entire EU. Both projections are 0.2 percentage points lower than in the summer forecast.

“The European economy has lost momentum this year against the background of a high cost of living, weak external demand and monetary tightening,” says the EC in a

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