EU presidency expects economy to weaken in 2008
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Europe's economy faces a rougher time in 2008 than last year in the face of financial market stress and surging oil and food prices, the European Union's Slovenian presidency warned Tuesday.
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European Union leaders are failing to deliver on economic reform promises made at the beginning of the decade,  a high level report warns.
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Romano Prodi, the outgoing European Commission leader, says EU plans to become the world's most competitive economy are a "big failure".
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The European Commission will next month lower its eurozone growth projections, but the EU is not facing a recession, European Commission President Jose Manuel Barroso said Tuesday.
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Weak growth in the 25-member European Union bloc is endangering the global economy, Britain's Chancellor of the Exchequer Gordon Brown warned in a newspaper article.
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Eurozone economic indicators to be released in the coming week will show that business and consumer confidence is falling and that inflation is rising again, economists said.
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Romano Prodi, the outgoing European Commission president, has described the EU&#39;s attempt to become the world&#39;s most competitive economy as a &quot;big failure&quot;.
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The White House on Tuesday lowered its forecast for U.S. economic growth for this year and next, saying that the economy is moderating.
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UK economic growth may be 1% lower in 2008 and 2009 because of the credit crunch, a report says.
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European stock markets were expected to open lower on Monday after weaker-than-expected jobs data last week dented confidence in the strength of economic recovery in the US.
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"Growth will slow down, due to increased global risk"  Germany's economy minister and a leading economic institute said Wednesday they expect 2008 growth to cool amid rising food and oil prices and fallout from the U.S. subprime mortgage loan crisis.Economy Minster Michael Glos was quoted by the mass-circulation Bild daily as saying the government was scaling back its forecast for 2008 to just under 2 percent. He did not give an exact figure.The Berlin-based DIW economic institute said it expected gross domestic product to expand by 2.1 percent in the coming year, following growth of at least 2.4 percent in 2007. Read more
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Gordon Brown today warns that weak growth in Europe is putting the global economy in jeopardy. In an article in the Financial Times, in which he cautions that the world recovery remains fragile, the chancellor
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WASHINGTON -- The White House on Tuesday lowered its forecast for economic growth this year and into 2008, reflecting the drag from the housing slump.
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Prime Minister Gordon Brown said in his New Year message Sunday that his agenda for 2008 would depend on weathering global financial turbulence.
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US Federal Reserve chairman Ben Bernanke says the outlook for the economy in 2008 has worsened.
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Euro zone economic indicators for release this week would show that business and consumer confidence was falling and that inflation was on the rise again, economists said.
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Germany's economy minister said the government must lower its 2008 economic growth forecast, according to an interview released Wednesday.