European economic performance 'disappointing'

European employers trimmed their economic growth outlook for the 25 EU nations yesterday to 1.6% in 2005 from the 2.2% they forecast a year ago – and sounded only a tad upbeat about next year, predicting growth of 2.1%.

The 2005 forecast matches that of the European Commission, though EU officials privately acknowledge their 1.6% growth forecast may turn out to be optimistic.