Euro zone economy to grow 1.2% this year and 1.7% next year

BRUSSELS (AFP) - The 18-nation euro zone economy will grow 1.2 per cent this year, as previously estimated, the European Commission said on Monday, but it cut its 2015 forecast to 1.7 per cent from 1.8 per cent.

The full 28-member European Union economy will expand 1.6 per cent in 2014, up from the previous estimate of 1.5 per cent, and grow 2.0 per cent in 2015, unchanged from the earlier forecast, the Commission said in its Spring economic forecasts.