Of note, they are forecasting the German economy to contract by 0.1% this year as compared to their previous forecast of 0.1% growth in the spring. Meanwhile, the French economy is forecast to expand by 1.1% this year. Looking to next year, the commission notes that:
“Geopolitical risks and policy uncertainty have further increased. In addition to the risks related to the wars in Ukraine and the Middle East, a further increase in protectionist measures by trading partners could weigh on international trade.”
This article was written by Justin Low at www.forexlive.com.
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