S&P lowers euro zone growth forecast to 1.1%
The lowering of its forecasts came following a slowdown in major economies.
LONDON: Credit rating agency S&P Global cut its 2019 euro zone growth forecast to 1.1 per cent from 1.6 per cent on Thursday.
The firm said the chop to its forecasts had come following a slowdown in major economies like Germany and Italy towards the end of last year and that it expected both countries to "significantly underperform" the euro zone average this year.
"External demand is still likely to remain muted."
The firm said the chop to its forecasts had come following a slowdown in major economies like Germany and Italy towards the end of last year and that it expected both countries to "significantly underperform" the euro zone average this year.
"External demand is still likely to remain muted."
