Euroland Factory Sector Posts Decline, Confirming Expectations of a Recession
Economics / Recession 2012 Jan 13, 2012 - 07:33 AM GMTBy: Asha_Bangalore
The European Central Bank (ECB) has chosen to watch and wait and did not take action after today’s meeting. The ECB has lowered the policy rate in the last two meetings to 1.00% from 1.50%. A preliminary report has indicated that real GDP of Germany contracted in the fourth quarter and German industrial production fell sharply in November.
Industrial production in all of Euroland also dropped 0.2% in November, the third monthly decline. At the cost of being repetitive, headwinds from Europe are predicted to touch US shores and translate into a slower growth of exports in the near term; evidence to support this view is gradually becoming visible
Asha Bangalore — Senior Vice President and Economist
http://www.northerntrust.com
Asha Bangalore is Vice President and Economist at The Northern Trust Company, Chicago. Prior to joining the bank in 1994, she was Consultant to savings and loan institutions and commercial banks at Financial & Economic Strategies Corporation, Chicago.
Copyright © 2012 Asha Bangalore
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