Friday, February 22, 2013
What we can say is that the prospect of an economic recovery in Eurozone (EZ) has been postponed for months, and that this is still the case now.
7 out the 17 EZ countries are expected to be in recession in 2013, and the entire Eurozone will show a negative growth of -0.3%. Greece (-4.4%), Portugal (-1.0%), Spain (-1.4%), Italy (-1.0%) and Netherlands (-0.6%) are expected continue to contract this year.
And more solid economies like France (+0.1%), Belgium (+0.2%), Finland (+0.3%), Germany (+0.5%) or Austria (+0.7%) will show sluggish growth numbers. Europe is not out of the woods.
The overview of the forecast published today is available here.
Posted by Investitus at 12:38 PM
IFO Business Index for Germany rises to 107.4 in February (Jan: 104.3). Reuters consensus was for 105.0.After an encouraging ZEW index earlier this week, IFO confirms optimism about economic activity in Germany. Will this optimism be confirmed by European Commission economic forecasts to be released at 11:00am Brussels time ? Suspense story !
— Markit Economics (@MarkitEconomics) February 22, 2013
Posted by Investitus at 10:09 AM