Eurozone cuts its growth targets

Eurozone growth is still moving ahead more quickly than in the past

The European Commission has cut its economic growth forecasts for the eurozone, less than a week after the region's interest rates were increased.

Analysts said the cut was in line with expectations that higher interest rates would start to slow global growth.

However, the announcement also came as the growth figure for the three months to 30 June was revised up to 2.7% from the earlier reported 2.6%.

Growth was still strong enough to see a further European rate rise, they said.


http://news.bbc.co.uk/2/hi/business/6039854.stm