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EU growth double forecasts

09-14-2010 09:00 BJT

The euro zone economy is likely to grow almost twice as fast this year as previously thought. The European Commission said that's because of much stronger economic growth in Germany -- the zone's biggest economy.

The commission is expecting growth of 1.7 percent, rather than 0.9 percent it forecasted in May. That's roughly in line with the latest projections from the European Central Bank. It predicted a growth rate of between 1.4 and 1.7 percent this year.

EU officials believe the European economy is on a path of recovery, and the rebound in domestic demand bodes well for the job market. Despite the stronger growth, the euro zone is likely to see slower prices growth than previously expected.

Editor:Xiong Qu |Source: CNTV.CN

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