Euro

Eurozone Economy Expected to Shrink in 2013

According to the European Commission

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The European Commission says the eurozone economy will shrink in 2013, after previously predicting that it would grow slightly.

Delivering its winter forecast, vice-president Olli Rehn said the 17 economies in the eurozone would collectively shrink by 0.3% this year.

The Commission had previously predicted overall GDP growth of 0.1%.