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Europe’s economic recovery faces hit from high energy costs


AP Business Writer

FRANKFURT, Germany (AP) — The European Commission has raised its growth forecast for the year for the 19 countries using the euro, saying the economy was bouncing back from the worst of the coronavirus pandemic as people went back to work in consumer-facing jobs. But the EU’s executive branch on Thursday also lowered the forecast for 2022, warning that high energy prices would eventually hit utility bills and weigh on people’s ability to spend. The economy also faces obstacles from supply chain logjams and rising COVID-19 infections. The autumn forecast raised the growth outlook for this year to 5% from 4.8% in the summer predictions, while the 2022 growth forecast dropped to 4.3% from 4.5%.

Article Topic Follows: AP National Business

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