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MENAFN - 24/02/2013

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(MENAFN) The European Commission announced that economic production of the euro region is projected to decline during the current year by 0.3 percent from a contraction of 0.6 percent in 2012, reported Xinhua News.

The commission's report noted that economic growth for the European Union (EU) in 2013 is expected to be at 0.1 percent.

Jobless rate in the one-currency bloc will grow to 12.2 percent in 2013, while the unemployment rate in the 27-country EU will rise to 11.1 percent.

It is worth noting that the commission's winter forecast sees a steady pickup of consumption and investment, due to several policy measures embarked on since last summer.

 






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