On October 30 The New York Times published an article titled “Data Show Weakening in Euro Zone Economy,” in which there was various notable statistics concerning Euro Zone economic conditions.
A couple of excerpts from the article:
The meeting came at a crucial time for the euro currency union. Data released Tuesday showed continued weakness in the Spanish economy and in the German labor market, suggesting that the broader euro zone economy was continuing to falter.
The decline in sentiment shows that the 17-nation euro zone began the fourth quarter “on a very weak note,” Jennifer McKeown, an economist in London with Capital Economics, wrote in a note. She said the sentiment data were “consistent with annual contractions in euro zone G.D.P. of around 2.5 percent. That implies very steep quarterly falls in G.D.P. in the next few quarters.”
She also predicted that the euro zone economy would shrink about 2.5 percent next year.
The article also discusses the economic situation in Spain and Greece.
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