The European Commission is forecasting slow recovery next year and into 2004 across the European Uni...
The European Commission is forecasting slow recovery next year and into 2004 across the European Union as budget deficits widen and international export markets fail to bounce back dramatically. Most dramatically, the commission says that moves to unleash growth in the US economy by cutting interest rates is losing its impact, and it does not expect any significant improvement in growth rates there until mid-way through next year. Elsewhere the picture is better, with Japan on the way out of recession in the eyes of the commission's economists and markets such as Canada, Austr...
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