Market woes, oil, forex to curb euro zone growth: EU
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The global credit crunch, created by  uncertainty about the size of losses in the U.S. mortgage  market, will curb euro zone economic growth in coming quarters,  the European Commission said.
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BRUSSELS  - A top European Union economic official is playing down the impact of rising oil prices on the bloc's economic recovery.
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A top European Union economic official Friday played down the impact of rising oil prices on the bloc's economic recovery.
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Fears of an economic slowdown in Europe deepened on Friday, after the release of weaker-than-expected data and another record in the euroâs relentless rise against the dollar.
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European Central Bank President Jean- Claude Trichet joined European finance ministers in urging the US to halt the decline of the dollar, warning that the currency&#39;s slide risks derailing global growth.
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FRANKFURT  - European Central Bank President Jean-Claude Trichet warned that persistent high oil prices could dampen the strength of the economic recovery in the eurozone.
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European equity markets moved lower on Thursday as investors remained cautious in the face of record oil prices and slowing economic growth.
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The economy of the 12 nations sharing the euro grew at the slowest pace in more than a year in the third quarter as record oil prices crimped global demand, prompting the European Commission
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European Central Bank President Jean- Claude Trichet signaled the bank is likely to cut its forecast for 2005 economic growth as the increase in oil prices takes its toll on consumer spending and investment.
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LONDON, October 26  - The European Commission has reduced its growth forecasts for the Eurozone economy for 2005, saying that the elevated oil prices and a continued rally in the euro would adversely impact the economy next year.
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Official figures show the 12-nation eurozone economy continues to grow, but there are warnings it may slow down later in the year.
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High oil prices dealt Germany&#39;s economy an unexpectedly severe blow in the third quarter, data showed on Thursday, leading economists to trim their growth forecasts for the 12-nation euro zone.
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The euro sank to a near-three week low  against the dollar and stocks eased on Wednesday after data  showed sluggish growth in euro zone services.
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The head of the European Central Bank said Thursday there is growing concern about higher energy prices increasing inflationary pressures.
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Eurozone figures to be released this week should show business confidence beginning to slide again owing to concern over slowing growth and the strong euro, economists said.
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The European economy should weather recent turmoil on financial markets although the turbulence could become worse, the EU&#39;s Economic and Monetary Affairs Commissioner said Wednesday.
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Credit worries will take a further bite out of global economic growth, including Europe.