This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/go/rss/int/news/-/news/business-11282137
The article has changed 4 times. There is an RSS feed of changes available.
| Version 1 | Version 2 |
|---|---|
| EU increases 2010 growth forecast | EU increases 2010 growth forecast |
| (about 2 hours later) | |
| The European Commission has raised its forecast for growth in the EU this year, after "particularly strong" growth in the second quarter. | The European Commission has raised its forecast for growth in the EU this year, after "particularly strong" growth in the second quarter. |
| The commission now expects growth in 2010 of 1.8% in the EU, up from an earlier estimate of 1%, and of 1.7% in the 16-member eurozone, up from 0.9%. | The commission now expects growth in 2010 of 1.8% in the EU, up from an earlier estimate of 1%, and of 1.7% in the 16-member eurozone, up from 0.9%. |
| But it added the recovery remained fragile and said development in member states was "uneven". | But it added the recovery remained fragile and said development in member states was "uneven". |
| It is projecting inflation of 1.8% in the EU, and of 1.4% in the eurozone. | It is projecting inflation of 1.8% in the EU, and of 1.4% in the eurozone. |
| "While activity is still expected to moderate in the second half of the year, the outlook is for a slightly improved quarterly profile compared to the spring forecast, due to the spill-over of some momentum from the second quarter," the commission said. | "While activity is still expected to moderate in the second half of the year, the outlook is for a slightly improved quarterly profile compared to the spring forecast, due to the spill-over of some momentum from the second quarter," the commission said. |
| 'Solid ground' | |
| The commission's statistics agency Eurostat based its forecast on updated projections for seven of Europe's largest economies - Germany, France, the UK, Italy, Spain, Netherlands and Poland - which together account for about 80% of EU GDP. | The commission's statistics agency Eurostat based its forecast on updated projections for seven of Europe's largest economies - Germany, France, the UK, Italy, Spain, Netherlands and Poland - which together account for about 80% of EU GDP. |
| It raised its growth predictions for all seven countries, with the biggest revision made for Germany after its economy grew by 2.2% in the second quarter - its fastest rate in more than 20 years. | It raised its growth predictions for all seven countries, with the biggest revision made for Germany after its economy grew by 2.2% in the second quarter - its fastest rate in more than 20 years. |
| In May, it had predicted the German economy would grow by 1.2% this year; now it expects expansion of 3.4%. | In May, it had predicted the German economy would grow by 1.2% this year; now it expects expansion of 3.4%. |
| "We now have solid ground under our feet," said EU Economic and Monetary Affairs Commissioner Olli Rehn. | "We now have solid ground under our feet," said EU Economic and Monetary Affairs Commissioner Olli Rehn. |
| "We have started scoring again, but there is no reason to shout for victory. We must remain alert and vigilant." | "We have started scoring again, but there is no reason to shout for victory. We must remain alert and vigilant." |