EU forecasts deeper economic hit from pandemic

BRUSSELS (AP) — The European Union’s latest economic forecast projects that the bloc’s economy will contract further than expected because of the coronavirus pandemic. The EU executive Commission expects the 27-nation EU economy will contract by 8.3% this year, before growing 5.8% in 2021. In the previous forecasts released in May, when most of the continent was under lockdown, the bloc’s GDP was forecast to contract by about 7.5% this year, and to bounce back by 6% in 20