The Commission has once again lowered its growth forecasts for the eurozone in 2019 and 2020, amid uncertainties over global trade and the possibility of a no-deal Brexit.
These disappointing forecasts could further weaken this continent, shaken by the rise of populism on the eve of the European elections.
In the eurozone, economists from the Brussels-based institution are predicting growth of 1.3% in 2019 and 1.6% in 2020, compared to 1.9% and 1.7% last autumn.
For the European Union (EU), projections have also been revised downward. For 2019 and 2020, Commission experts forecast 1.5% and 1.7% compared to 1.9% and 1.8% previously.
Decreased forecasts for the French economy
The European Commission has revised its growth forecasts downward for France’s GDP. Growth is expected to decrease from 1.5% in 2018 to 1.3% in 2019, compared to 1.7% and 1.6% last autumn.
Regarding unemployment, the rate according to the International Labour Organization (ILO) is expected to drop from 9.1% in 2018 to 8.8% in 2019 and 8.5% in 2020.
