Europe's growth forecasts get big boost
The European Commission raised its euro-area growth forecast today as dwindling fears of deflation and monetary stimulus help the economy overcome pressure from the continuing crisis in Greece.
While GDP in the 19-nation bloc is now forecast to increase 1.5% this year (up from a prediction of 1.3% in February), the European Commission slashed Greece's economic growth outlook to 0.5% in 2015, down from an earlier 2.5% estimate.
Other GDP forecasts for 2015: Germany +1.9%; France +1.1%; Italy +0.6%.
The euro is -0.3% to $1.1113.
European stocks: FTSE 100 +0.6%; DAX +0.6%; CAC 40 +0.5%; Euro Stoxx 50 +0.4%.
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