Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  September 25, 2012 14:03:56

S & P: deteriorating economic outlook for the euro area this year, a decrease of 0.8%, then only stagnation

The credit rating agency Standard & Poor's in its latest forecast lowered its estimates for the economic development of the Eurozone. For this year, the new EU economy expected to slow down by 0.8% from the previously estimated decline of 0.7%. For the next newly Agency estimates only stagnation compared to the originally estimated growth of 0.3%.

Analysts agencies estimate that the eurozone enters a new recession with relatively large differences in the development of individual countries. Moderate growth should be attributed to core countries like France and Great Britain, while deepening recession should come in Italy and Spain. Its GDP should fall next year by 1.4% compared to the expected date decline of 0.6%. Relatively durable economy should be Switzerland, Sweden and Belgium.

The main reason for the worsening prognosis is still ongoing debt crisis and only bleak prospects for a possible solution.
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S&P: Zhoršujeme výhled ekonomiky pro eurozónu, letos pokles o 0,8%, pak jen stagnace

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