Euro zone Q4 GDP growth forecast unchanged
The European Commission maintained its forecast for quarterly GDP growth of 0.2-0.5% in the fourth quarter.
For the first quarter of 2003, the commission said it expects GDP growth of -0.2-0.2%.
"This first estimate is due to recent developments in the variables used in the model, notably survey indicators both in the US and the EU, and the financial variables," it said.
"However this deceleration of growth is compatible with the baseline scenario of a gradual recovery in the course of 2003 sustained by sound fundamentals," it said.
