The euro-zone is going for a fourpeat.
The euro-zone economy seems unlikely to emerge this quarter from a contraction that has already lasted for nine months, despite a low rate of unemployment in Germany, its largest member.
The Centre for Economic Policy Research and the Bank of Italy Thursday said their Eurocoin indicator—which is intended to estimate quarter-on-quarter growth in gross domestic product—showed the euro-zone economy shrank again in February, although at a slower pace than in recent months.
The euro-zone economy contracted by 0.6% in the fourth quarter of last year, having also shrunk in the second and third quarters.
Well, at least they’ve wiped the smirks off those damned bankers’ smug faces. Right?