EC cuts 2016 EMU GDP forecast to 1.7% versus Nov 1.8%

As MNI reports, the European Commission (EC) slashed growth outlooks for the EMU and US, while China’s GDP remained unchanged. Also, the Euro zone inflation forecasts were lowered.

Key Headlines:

EC: cuts 2016 EMU GDP forecast to 1.7% v Nov 1.8%; 2017 1.9%

EC: cuts 2016 EMU HICP forecast to 0.5% v Nov 1.0%

EC: cuts 2016 global GDP forecast to 3.3% v Nov 3.5%

EC: cuts 2016 US GDP forecast to 2.7% v Nov 2.8%

EC: leaves 2016 China GDP forecast unchanged at 6.5%

EC: sees Spain 2016 GDP 2.8% (2.7%); 2017 2.5% (2.4%)

EC: sees Greece 2016 GDP -0.7% (-1.4%); 2017 2.7%