The euro area economy is set to log a weaker-than-estimated growth this year and next as rising consumer prices continue to weigh on domestic demand and monetary policy tightening works its way through the economy.
In the summer interim forecast, released Monday, the European Commission said the 20-nation currency bloc will grow 0.8 percent in 2023, which was revised down from 1.1 percent projected in the Spring Forecast.
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by Renju Jaya
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