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New Economic Data Reveals Long Road Ahead for Euro

November 30, 2011

The OECD recently released its revised predictions for economic growth across the rich world for 2011 through 2013.  The numbers for the Eurozone continue to remain bleak, as GDP is expected to grow by a mere 0.2% in 2012.  While Greece, Italy, and Portugal are expected to see their economies contract, perhaps the more worrisome news is that many of the richest and largest members of the Eurozone are expected to grow by very low rates.  For instance, Germany is expected to grow at 0.6%, while France at an even slower 0.3%.  Only three OECD members who use the euro are expected to grow at rates above one percent.  The numbers go look a little more promising for the EU countries who belong to the OECD but do not use the euro, but again, rates will be slow.

Source: OECD

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