A disappointing show: The euro-zone recovery slows again

Posted: November 13, 2015 in economy
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A disappointing show

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An ebbing recovery strengthens the case for bold action by the European Central Bank

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IN LESS than three weeks’ time the governing council of the European Central Bank (ECB) will hold its final monetary-policy meeting of the year. After it last convened, in Malta late last month, Mario Draghi, the bank’s president, indicated that the ECB would loosen policy still further in early December. Mr Draghi gave no indication, however, of how vigorously the ECB would act. Today’s figures for euro-zone GDP in the third quarter suggest that the council will do more to enhance activity and to revive inflation rather than less.

The new numbers showed that the recovery continued to slow. Quarterly GDP growth had picked up to 0.5% (an annualised rate of 2.1%) in the first three months of 2015, the sprightliest pace since the euro area emerged from recession in the spring of 2013. But that slowed to 0.4% in the second quarter. Now it has decelerated again to 0.3%, …

via Economic Crisis http://ift.tt/1N23cGP

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