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Eurozone growth forecast cut to 1.7%

The European Commission cuts its forecast for economic growth in the eurozone this year from 1.8% to 1.7%.

Unemployment in the eurozone has fallen to its lowest level in over four years despite worries about the global economy.

The inflation rate in the 19-country eurozone rises to 0.4% compared with January 2015 - its highest for almost 15 months.

Growth in the eurozone economy rose to a four-month high in December, the closely-watched purchasing managers' index surveys suggests.

Inflation in the eurozone remained at 0.2% in December, unchanged from November, official statistics show.

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