The European Commission lowered the forecast for the growth of the euro area economy for 2018 from 2.3% to 2.1%. In 2019 GDP is expected to grow by 2%. The estimation of economic growth in 27 EU countries for 2018 was reduced from 2.5% to 2.3%. The forecast for growth for 2019 was left unchanged at the level of 2.1%. EC expects in 2018 inflation in the EU at 1.9%, in the eurozone - at 1.7%. The forecast is increased due to the growth of oil prices. In the second half of the year, experts expect the strengthening of the economy on the background of improving labor market conditions, reducing of the household debt and maintaining a favorable monetary policy. The European Commission lowered the forecasts for the growth of the economy of the eurozone and the EU against the backdrop of such unfavorable external conditions as the growing tension in trade with the United States.
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