Tuesday, September 25, 2012

S&P lowers forecast for eurozone GDP growth in 2012 and 2013


Standard & Poor's Ratings Services said today that it now expects -0.8% GDP growth in the eurozone in 2012 and flat growth in 2013. For Spain, the forecast is now for a 1.4% contraction next year.

This compares with our previous projections in July for 2012 and 2013 GDP growth of -0.7% and 0.3% for the eurozone, and -0.6% for Spain in 2013.

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