EU economic growth forecast raised

The European Union will grow faster than previously expected this year, driven by increasing demand at home, and may outpace growth in the United States, the European Commission said Friday.

The Commission said it expects the $14.3 trillion economy of the 27-nation European Union will grow 2.7 percent this year instead of its earlier 2.4 percent forecast. That would top its estimate that the U.S. economy will grow 2.5 percent.

The EU's executive arm also raised its growth forecast for the 13-nation region that uses the euro currency to 2.4 percent from an earlier estimate of 2.1 percent.
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