Eurozone Forecasted to Grow at 1.2 Percent in 2014

The eurozone’s economy will grow slightly faster than expected this year at 1.2 per cent, but several of its most vulnerable members will continue to struggle to emerge from a multiyear recession, according to new forecasts from the European Commission.
The 1.2 per cent growth rate is 0.1 per cent faster than forecasts the commission made four months ago and was helped by a sharp upgrade in Spain, the eurozone’s fourth-largest economy, which is now predicted to grow at 1 per cent in 2014, rather than the 0.5 per cent predicted in the autumn.
But the new forecasts will be an unpleasant welcome for the incoming government of Matteo Renzi, Italy’s new prime minister, with the country’s growth downgraded to just 0.6 per cent this year and debt levels still predicted to reach a euro-era high of 133.7 per cent of economic output.

via FT

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza