Brussels, 12/12/2002 (Agence Europe) - On Thursday, the European Central Bank (ECB) announced that it would be revising its economic growth forecasts for Euro-zone countries in 2002, downwards. It is now only forecasting an increase of 1% in GDP compared with the growth band of between 0.9%-1.5% it forecast six months ago. For 2003, its forecast has been reduced from 2.1%-3.1% to 1.1%-2.1%.
The ECB report for December indicate that element reveal that inflationary pressures have been...