Forecast revised: EU commission says that growth will slow down next year - jd 28.04.2008 18

Crude oil prices hit a new record high Monday, near 120 dollars a barrel. Oil prices along with skyrocketing food prices have led the European Commission to issue a warning about economic growth in the E-U. The Commission said Monday that growth will slow down next year. It revised its forecast down from two and a half percent to one point eight percent.