The International Monetary Fund (IMF) lowered its estimate for the euro area economy growth to 1.2 percent in 2019 and 1.4 percent in 2020 compared to the July forecast, according to the report issued Tuesday
WASHINGTON (Pakistan Point News / Sputnik - 15th October, 2019) The International Monetary Fund (IMF) lowered its estimate for the euro area economy growth to 1.2 percent in 2019 and 1.4 percent in 2020 compared to the July forecast, according to the report issued Tuesday."Growth is projected at 1.2 percent in 2019 (0.1 percentage point lower than in April) and 1.4 percent in 2020. The 2019 forecast is revised down slightly for France and Germany (due to weaker-than-expected external demand in the first half of the year). Both the 2019 and 2020 forecasts were marked down for Italy, owing to softening private consumption, a smaller fiscal impulse, and a weaker external environment," the report read.
Italy is expected to have zero GDP growth in 2019 and 0.5 percent in 2020. Germany is set to slow down to 0.5 percent in 2019 and then pick up with 1.2 percent in 2020.
