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Article: AUTUMN ECONOMIC FORECAST : DATA SHOW EU EMERGING FROM RECESSION.
- Article from:
- European Report
- Article date:
- November 4, 2009
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The EU economy will contract by 4.1% this year, according to the latest forecast from the European Commission, 0.1% worse than its April estimate. Eurozone growth will contract by 4% compared with last year, as previously predicted.
However, 2010 will see most EU countries posting positive growth figures - bar Ireland, Greece, Spain, Bulgaria, Hungary and the Baltic states - an upward revision from earlier this year.
The EU and the eurozone will see positive growth of 0.7% in 2010, according to the new estimates, which marks a 0.8% improvement on the spring forecast.
The figures have led Economic and Monetary Affairs Commissioner Joaquin ...