EU Commission raises Eurozone 2017 GDP forecast

The European Commission (EU) is out with its latest economic forecasts report on Thursday, raising the 2017 growth forecasts for the Eurozone.

Key Highlights from the report:

Raises Eurozone economic growth forecast for 2017 to 2.2%, fastest in a decade, from 1.7%.

Raises GDP growth forecast for all EU to 2.3% this year from 1.9%, sees 2.1% in 2018, 1.9% in 2019.

Cuts British growth forecast for 2017 to 1.5% from 1.8%, sees 1.3% growth in 2018, 1.1% in 2019.

Investment in Britain to weaken next year as companies defer investment over Brexit uncertainty.