Wednesday, April 07, 2010

Stagnation in Europe's Economy?

As a follow-on to my last post, I saw this news item from this morning titled, "Europe Economy Unexpectedly Stalled in Fourth Quarter". Here is an excerpt from the story. You will notice the word "Stagnation" in the first sentence, which is in the title of my last post.

By Simone Meier
"April 7 (Bloomberg) -- Europe’s economy unexpectedly stagnated in the fourth quarter as companies cut spending more than previously estimated.

Gross domestic product in the 16-nation euro region remained unchanged compared with the third quarter, when it rose 0.4 percent, the European Union’s statistics office in Luxembourg said today. It had previously reported a fourth- quarter expansion of 0.1 percent. Corporate investment dropped 1.3 percent instead of the 0.8 percent estimated earlier.

The European economy is now showing signs of rebounding from its end-of-year relapse as the global recovery prompts companies to step up investment and offsets some concerns that Greece’s fiscal crisis will hurt the euro region."

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