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BREAKING NEWS - Economy

Trade war and Brexit pose mounting risk to EU economy, says EC  

The threat of a full-blown trade war between the US and China and Brexit uncertainty are posing mounting risks to the EU economy, the European commission has warned, after downgrading its growth outlook for 2019.

Brussels’ executive arm said a recent slowdown in global trade volumes had taken its toll across the continent, as it cut its GDP growth forecast for the 28-nation bloc for 2019 to 1.4%, down from a forecast of 1.9% in the autumn. Sounding the alarm as tensions between the US and China threaten to boil over ahead of crunch meetings between the two countries later this week, the commission warned that further escalation of trade conflicts around the world could trigger a “major shock” for the EU. Read more HERE.

The threat of a full-blown trade war between the US and China and Brexit uncertainty are posing mounting risks to the EU economy, the European commission has warned, after downgrading its growth outlook for 2019.

Brussels’ executive arm said a recent slowdown in global trade volumes had taken its toll across the continent, as it cut its GDP growth forecast for the 28-nation bloc for 2019 to 1.4%, down from a forecast of 1.9% in the autumn. Sounding the alarm as tensions between the US and China threaten to boil over ahead of crunch meetings between the two countries later this week, the commission warned that further escalation of trade conflicts around the world could trigger a “major shock” for the EU. Read more HERE.

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Published on 08/05/2019 @ 08:51 AM   | All Breaking News Topics | Top
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