The European Union's executive commission has clipped its estimate for eurozone growth this year and next as uncertainty over trade disputes and continued weakness in the car industry hold back output.
 
The commission decreased its prospect for growth this year in the 19 countries that use the euro to 1.2 percent from 1.3 percent in its former prediction in February. The forecast for the coming year was lowered to 1.5 percent from 1.6 percent.
 
The commission announced that home-based demand alone was holding Europe's upswing going in its seventh year, because of a strong job market, muted inflation and low borrowing costs.
 
Europe is heavily reliant on trade and has sensed the effects from slowing global commerce and the trade dispute between the U.S. and China.
 
This article is originally posted on TRONSERVE.COM