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EU economic growth outlook dims on rising geopolitical risks
EU economic growth outlook dims on rising geopolitical risks

The European Union cut its economic growth forecasts for the region, saying rising geopolitical risks in Ukraine and the Middle East and a broader global slowdown have eroded business and consumer confidence since the spring. The downgraded outlook, released Tuesday, is bad news for the U.S. economy because Europe is a major market for American exports. "It would be an added head wind," said Gary Schlossberg, senior economist at Wells Capital Management. "You'd still see economic growth here, but it would be weaker than it would be." Europe's troubles come amid slower economic growth elsewhere in the world, which helped drive up the U.S. trade deficit in...

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