European economy expected to grow faster than forecast, says EU
by Phillip Inman from on (#6BQYD)
Revised outlook for 2023 and 2024 puts average growth for 27-member bloc at 1%
Europe's economy is expected to grow faster than previously thought this year and next, despite high inflation and rising interest rates, according to the European Commission.
The commission said the EU's 27 members would grow at an average of 1% in 2023, up from a previous estimate of 0.8%. It nudged its forecast for growth in 2024 to 1.7% from 1.6%.
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