EU Commission slashes Euro area GDP forecast to 2.6%, sees inflation at 7.6% in 2022

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Expects GDP growth of 1.4% in euro area in 2023, down from 2.3% in previous outlook

Expects euro area inflation of 7.6% in 2022, up from 6.1% in previous outlook

Expects euro area inflation of 4.0% in 2023, up from 2.7% in previous outlook

Expects German GDP growth of 1.4% in 2022, down from 1.6% in previous outlook

Expects German GDP growth of 1.3% in 2023, down from 2.4% in previous outlook

Expects German inflation of 7.9% in 2022, up from 6.5% in previous outlook

Expects German inflation of 4.8% in 2023, up from 3.1% in previous outlook

Expects French GDP growth of 2.4% in 2022, down from 3.1% in previous outlook

Expects French GDP growth of 1.4% in 2023, down from 1.8% in previous outlook

Expects French inflation of 5.9% in 2022, up from 4.9% in previous outlook

Expects French inflation of 4.1% in 2023, up from 3.1% in previous outlook

Expects GDP growth of 2.7% in EU in 2022, unchanged from previous outlook

Expects GDP growth of 1.5% in EU in 2023, down from 2.3% in previous outlook

Expects Italian GDP growth of 2.9% in 2022 and 0.9% in 2023, vs 2.4% and 1.9% in previous outlook