TechFlow news, May 19 — According to Jinshi Data, the European Commission said on Monday that eurozone economic growth is expected to slow over this year and next due to the trade war initiated by the United States and uncertainty about when and how it will end. The European Commission forecasts that the eurozone's GDP will grow by only 0.9% this year, down from the 1.3% projected in November last year. Growth is expected to accelerate to 1.4% by 2026, but still below the 1.6% projected by the Commission six months earlier. The body stated: "Growth prospects have been significantly downgraded. This is largely due to weakening global trade outlook and rising trade policy uncertainty. The economic outlook faces downside risks. Further fragmentation in global trade could slow GDP growth and reignite inflationary pressures. Climate-related disasters are also becoming more frequent and remain an ongoing source of downside risk for economic growth." However, economic growth could accelerate if tensions between the EU and the US ease.
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