Euro zone GDP plunges, but Q4 should mark the turning point
Thursday, February 14, 2013 - 02:09
Feb. 14 - The euro zone economy contracted in Q4 at the fastest rate since the depths of the crisis in late 2008. Grim figures from Germany, France and Italy. But this is as bad as it gets, right?
▲ Hide Transcript
▶ View Transcript
Struggle but the Euro zone economy is recovering you just can't see it yet. The latest official figures -- the world's second largest economic -- strike in the fourth quarter last year by not point 6%. We could Dixon economist at Commerzbank says things surely won't get any -- A negative figure for the fourth quarter and he was out. But I -- go forward I think the signs dog it's missing some signs of stabilization in the first half of 2013 I mean that's not to say. We get in being positive growth numbers. But something maybe fossil may be -- negative thinking won't. And hopefully something flop so maybe slightly positive thinking team. If the unit is on a couple struggling is because its engine Germany isn't fighting and also -- those German GDP struck by not point 6% in the fourth what -- 2012. More than fields and the third biggest drop since the it was in section fourteen years ago. The Euro zone's second biggest economy fronts also strike at the end of last year final point 3%. Promised banks to Dixon says France will struggle much more than Germany took a couple of. Facing different problems one of the lack of competitiveness. Because he hasn't really come to them when -- reforms we've seen notes may. To continued. Over the course of the last ten days what that means that forty is that if and when you can read those find your life. The French -- we will continue to struggle. With France and Germany spot singing -- Fortis will surprise the region's third largest economy actually also went into the best. I'm tired GDP shrank by a huge not point 9%. Deepening the recession. I'm talking up recession official figures from Spain are released later this month -- already know it's his mind and a deep and painful recession. 2013. Will be an extremely bumpy ride once again for Spain you know as a locomotive of -- should start to accelerate as the year progresses. -- largely depend on the strength of the German engine. Optimists will point type that Germany is much better equipment appears to cope with a strong you know. So it's not a full steam ahead and certainly on what's up what's. Jimmy did you vote for Reuters.
Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code