The European Commission has downgraded its forecasts for growth across the eurozone this year and next as economic activity in the bloc stumbles in the face of higher borrowing costs. In its new Autumn forecast, the Commission predicted that the currency union would grow 0.6 percent in 2023, a downgrade on its previous forecast of 0.8 percent. “The loss of growth momentum so far this year has been underpinned by the lack of a solid growth driver, with weakness especially in consumption but also on the external side. Private consumption broadly…
