Europe sees stronger economic rebound, warns of energy costs – By Associated Press (Seattle P.I.) / Nov 11 2021
FRANKFURT, Germany (AP) — The European Commission raised its growth forecast for the year for the 19 countries using the euro, saying Thursday that the economy was bouncing back from the worst of the pandemic as people went back to work in customer-facing jobs.
But the EU’s executive branch lowered the forecast for 2022, warning that high energy prices would eventually hit utility bills for households and businesses and weigh on people’s ability to spend.
The economy also faces obstacles from logjams in supplies of parts and raw materials and rising COVID-19 infections, particularly in countries with low vaccination rates.
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