Cuts For Eurozone 2012 Forecasts

摘要

The European Commission has responded to the most recent developments concerning the eurozone debt crisis by making sharp reductions to its GDP forecasts for next year. In its autumn forecast the Commission reveals it now expects to see eurozone growth of a mere 0.5% in 2012, with economic growth projections for every single member state revised down from its previous forecasts. The most substantial downward revisions (shown in the first chart, right) were made for countries which had hitherto enjoyed some of the brightest outlooks, namely Germany (down from 1.9% to 0.8%), the Netherlands (from 1.7% to 0.5%) and France (from 2.0% to 0.6%).