Mounting recession risks in Europe |
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Downturn. After starting the year on an unexpectedly strong note, growth in the eurozone has weakened massively. In spring, GDP throughout the EMU should have stagnated at best. That is also the message from our GDP model primarily based on hard economic data (cf. chart). Even worse, the risks are clearly tilted to the downside. Widespread. The German economy probably even contracted in the second quarter. And while gross domestic product in France and Spain posted at least slight growth, the
Filed under: Fundamental
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