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European Union trims growth forecasts

“Despite slowing economic growth, the EU expects unemployment to continue its decline to 7.6% by yearend, compared with a May forecast of 7.7%” writes Emre Peker for marketwatch.com. The European Central Bank’s new president, Christine Lagarde, is looking to bridge divides over ultraloose monetary policies to revamp growth.Meanwhile, EU policy makers are at loggerheads over how to revive the stagnating eurozone economy.BRUSSELS–Europe’s economy is settling into a pattern of “subdued” expansion as global trade tensions weigh on the export-oriented bloc, the European Union said Thursday, slashing growth expectations and calling for more stimulus.The EU’s economic outlook is deteriorating as the U.S.-China trade war saps global growth.
 
Source: marketwatch.com



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