U.S. Markets

ECB's De Guindos says Eurozone growth in fourth quarter will be negative

FILE PHOTO: Vice-President of the European Central Bank (ECB) Luis de Guindos gives a statement during the second day of the Informal Meeting of EU Ministers for Economics and Financial Affairs in Berlin, Germany September 12, 2020. Odd Andersen/Pool via REUTERS

MADRID (Reuters) - European Central Bank Vice-President Luis de Guindos said on Friday that Eurozone growth will likely be negative in the fourth quarter, as countries have imposed new restrictions to the economic activity over the past weeks in a bid to slow the coronavirus contagion.

European Commission downgraded on Thursday its GDP forecast expectations for 2020 and 2021 because of the second wave of infections.

Reporting by Emma Pinedo and Inti Landauro