EC cuts growth outlook ahead of ECB decision

Madrid

THE European Commission (EC) has cut its euro-area growth and inflation outlook for next year, citing more challenging global conditions and fading impetus from lower oil prices and a weaker euro.

Gross domestic product in the 19-nation bloc is set to grow 1.8 per cent next year, down from a previous projection of 1.9 per cent in May, the EC said in its autumn forecast published on Thursday.