The euro Area economy is expected to continue growing this year and next but at a “reduced momentum”, according to the EU Commission’s Summer Interim Forecast released Monday. Growth for the EA was revised down to 0.8% this year from 1.1% in the Spring Forecasts and down to 1.3% from 1.6%.

Inflation in the euro zone is revised down to 5.6% from 5.8% in the Spring and and the outlook for 2024 is edged up up to 2.9% from a previous 2.8%.

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Inflation in the euro zone is revised down to 5.6% from 5.8% in the Spring and and the outlook for 2024 is edged up up to 2.9% from a previous 2.8%.

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MNI BRIEF: EU Forecasts See Reduced Growth Momentum In 2023-24