The European Commission on Thursday cut its eurozone 2016 growth forecast to 1.7 percent from 1.8 percent, warning that the slowdown in China and increased global turmoil cloud the outlook.


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"Risks to the economy are becoming more pronounced and new challenges are surfacing -- slower growth in China and other emerging market economies, weak global trade as well as geopolitical and policy-related uncertainty," the Commission said in its Winter economic forecast.