The European Commission on Thursday said it now expects the euro-zone economy to shrink by 0.3% in 2012, with the region undergoing a "mild recession."
In its interim economic forecast, the European Union's executive arm said weaker growth momentum at the end of 2011, a softer global economy and the region's ongoing debt crisis were to blame
The commission in November had forecast 2012 growth of 0.5%
The commission now expects Germany to grow 0.6% in 2012, down from a forecast of 0.8% in November
Italy is now seen shrinking 1.3% versus a fall forecat for growth of 0.1%
France is expected to grow 0.4% in 2012, down from a 0.6% forecast in the fall
Spain is seen contracting 1% versus an earlier forecast for growth of 0.7%
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