Growth outlook for eurozone worsens

The scale of the economic challenge facing the eurozone was underlined on the 10 November 2011 by the European Commission's Autumn Economic Forecast for the period 2011-2013 predicting slower growth and higher levels of debt in the 17-country trading area.

Since the last fully-fledged EU economic forecast in May 2011, the outlook for the EU and the euro area has deteriorated according to the report.

The protracted sovereign-debt crisis has taken its toll on confidence affecting investment and consumption. The first signs of improvements for GDP are projected for the second half of 2012, however, with very limited impact on job creation.

ESO: Background information: Germany powers eurozone expansion http://www.europeansources.info/record/germany-powers-eurozone-expansion/

European Commission: DG Economic and Financial Affairs: EU Economic Situation: Economic forecasts: Autumn Economic Forecast 2011 http://ec.europa.eu/economy_finance/eu/forecasts/2011_autumn_forecast_en.htm

BBC News, 10.11.11: Eurozone's growth has stalled, says EU http://www.bbc.co.uk/news/business-15669197

EUObserver, 10.11.11: Autumn economic forecast: EU economy in ‘dangerous territory’ http://euobserver.com/19/114244

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