Eurozone economy grows steadily but outlook darkens

"The worsening international backdrop has taken the wind out of the eurozone's sails," said Simon Tilford, deputy director of the Centre for European Reform, a London think-tank. Mr Tilford said there is currently little risk of recession in the eurozone, but added that global growth appears to be slowing before Europe's recovery gained any vigor. "The problem is the eurozone never really recovered from the previous downturn," he said, referring to Europe's long debt crisis in recent years.