News Snapshot:
The European Commission cut its economic growth forecasts for the European Union (EU) and the eurozone for 2022 and 2023 and revised up its inflation estimates on Thursday. According to the "Summer 2022 Economic Forecast," the EU economy is projected to grow by 2.7 percent this year and 1.5 percent in 2023, and the respective figures for the eurozone are 2.6 percent and 1.4 percent. Annual average inflation in 2022 is projected to peak at historical highs of 8.3 percent in the EU and 7.6 percent in the eurozone. In the third quarter of 2022, inflation is projected to peak...
