The European Commission expects overall economic expansion in the 12-member European Union nations to weaken for the remainder of 2002 and into early 2003. The commission maintains its regional growth forecast of 0.8% for this year, while lowering its 2003 outlook to 1.8%, a full 1.1% lower than estimates made in the spring. "For the union and the euro area, the turn for the better is delayed by one year compared to our spring forecast," says Pedro Solbes, commission member responsible ...
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