Clouds on the horizon are also getting darker, the commission said. But the risks are clearly on the downside, explained the Commissioner for Economic Affairs, Pierre Moscovici.
The economic slowdown forecast by the commission is worse than that seen by the ECB in its latest projections released in December last year, when the bank expected the eurozone to grow by 1.7 percent this year.
Italy, the third largest economy in the euro zone, is expected to post the slowest growth rate in the whole European Union with a mere 0.2 percent expansion this year.
For next year, the output is expected to pick up, although slightly less than initially expected, to reach 1.6% for the eurozone and 1.8% for the European Union as a whole. 2019 is expected to be the seventh straight year of economic growth.
Europe "does seem to be more affected than other areas by the slowdown in global trade", Moscovici explained. Trump has said he plans to raise tariffs, or import taxes, on US$200-billion worth of Chinese imports on March 2 if no deal is reached.
The euro area was particularly impacted by the trade tensions triggered by the US-China dispute "given the geographical orientation of its external trade and its product specialisation" the forecast document reads.
On that front, Commission forecasters also warned that the domestic drivers of the expansion in the euro area have "softened". The ECB said incoming data have "continued to be weaker than expected on account of softer external demand and some country and sector-specific factors".
Fatal airbag recall = 1.7 m
The airbags, made by Japanese company Takata, feature an inflator that uses explosives to quickly pump up the bag during a crash. Between Subaru , Tesla , B-M-W, Volkswagen , Daimler vans , Mercedes , and Ferrari it's for more than 1.7 million vehicles.
For the European Union, Brexit remains a source of uncertainty, the commission said.
The improving situation of the labour market across Europe, the slightly expansionary fiscal policy and the low financing costs are still fueling the expansion even if at a slower pace.
In its forecasts, the commission sees the 19-nation eurozone economy expanding 1.3 per cent this year, down from 1.9 per cent projected in November.
"Yellow Vest" protesters stage a demonstration in Bordeaux, France, on the 12th consecutive Saturday of rallies last weekend.
Germany, Italy and the Netherlands all saw sizeable downgrades for their growth outlook. Next year, the bloc is forecast to expand by 1.8 per cent. It blamed uncertainty over government policies and higher borrowing costs for pushing Italy into recession in the second half of a year ago. A raft of risks is stalking the European and global economies, including China's slowdown, a trade dispute between the US and China that has created new import taxes, and the chance that Britain could leave the European Union in March in a chaotic fashion without approving a transition agreement.
The latest growth forecast may force Italy to again review its spending plans for 2019 in order to satisfy Brussels and assuage investors. It dropped by 0.4% month/month - better than the previous month's revised fall of 1.3% but confounding expectations of a 0.8% increase.
According to NASA, the "mysterious dark vortex" is a storm that is a result of the ice giant's southern summer. The entirety of Uranus' north pole is engulfed by a "vast bright stormy cloud cap", wrote NASA.
At that juncture, however, the project had collected just around half of the 30.3 kg of gold and 4,100 kg of silver needed. This means that all of the 2020 Olympic medals will potentially have iPhone and Android parts in them.
Lampert, through his hedge fund, ESL Investments, presented the only bid for the company to keep it afloat, according to Reuters. James Bromley, ESL's attorney, said the disagreement can be settled in future negotiations after the deal closes.
Foot Locker (NYSE:FL) last issued its quarterly earnings results on Tuesday, November 20th. (NYSE:FL) for 5,030 shares. (NYSE:FL). Fox Run Management L.L.C. purchased a new stake in Foot Locker in the 4th quarter valued at about $529,000.
Skybound Games has announced enhanced editions of classic Dungeons & Dragons RPGS from Beamdog will be released on consoles. Skybound Games was selected as the team to finish The Walking Dead after Telltale Games shuttered their doors.
Once the said cancer occurs in women who have breast implants, it will typically appear in the scar tissue around the implant. So far, 457 women in the USA have been diagnosed with anaplastic large cell lymphoma tied to breast implants.
The Atlanta Legends and the San Diego Fleet will cap off Week 2 of the AAF season in primetime Sunday night on NFL Network. Kickoffs have been completely taken out of the game and scrimmage will start from each team's own 25-yard line.
These despicable crimes of sexual violence are being committed against our women, children and even babies. He said some fatalities included three-month-olds and that 70 per cent of survivors are under 15.
He added: "I've been successful since I was 13, so I didn't really have a chance to find who I was apart from what I did". I wanted to rededicate myself to God in that way because I really felt it was better for the condition of my soul.
Francisco Lindor Out 7 To 9 Weeks With Right Calf Strain
He signed a one-year, $10.5 million deal with Cleveland in January, and will be arbitration eligible in both 2020 and 2021. In a statement the Indians said Lindor suffered the injury working out over the weekend in Orlando, his offseason home.
Update on Matches Advertised for the WWE Fastlane PPV
Despite Lynch being "medically suspended" on WWE TV this week, that match is still confirmed for Wrestlemania. WWE Superstar Seth Rollins is now said to be dealing with a back injury as we reported last week here on eWn.
Global Virtual Reality Market Opportunities and Growth Analysis
Other key feature included in this report is the analysis of the revenue forecasts of all the important regions and applications. For the growth estimation of the Augmented Reality (AR) Market for the predicted duration, it uses various methodological tools.
Ramaphosa announced as African Union chair for 2020
An African diplomat told AFP that Egypt - along with fellow heavyweights South Africa and Nigeria - does not want a powerful AU. As usual, the continent's multiple security crises will be high on the VIPs' agenda.
Thomas Cook profit losses flying high at £60m
That coincides with the company announcing a " strategic review " of the profitable and growing group airline business. Analysts said there might not be many bidders to take the whole airline in one go, given turmoil in the industry.