The U.S. economy will avoid recession this year and next, according to the latest European Commission forecast. The forecast is for the U.S. economy to grow 1.4% in 2023 and 1% in 2024, against its previous estimate that the U.S. will grow 0.7% in 2023 and 1.7% in 2024. The new forecast came as part of the spring 2023 forecast which is that the eurozone will grow 1.1% this year and by 1.6% next year, which both were improvements from its last estimate, owing to a better energy-price outlook and a resilient labor market.

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