Eurozone to shrink 0.6% in 2013, grow 1.1% in 2014—ECB

The eurozone economy is projected to shrink by 0.6 percent this year and then grow by 1.1 percent next year, the European Central Bank said on Thursday. AP PHOTO/FABIAN BIMMER

FRANKFURT—The eurozone economy is projected to shrink by 0.6 percent this year and then grow by 1.1 percent next year, the European Central Bank said on Thursday.

Revealing the ECB’s regular staff economic projections at a regular news conference here, central bank chief Mario Draghi said the 2013 forecast represented a slight downward revision, and the 2014 represented a slight upward revision from earlier forecasts released in March.