The euro zone is in danger of its third recession since 2008, despite recent better-than-expected economic data, according to Jean-Michel Six, Standard & Poor’s chief EMEA economist.
“Risks of a triple-dip recession have risen,” Six told journalists at a briefing in London on Tuesday. The euro area has suffered two recessions in quick succession—one in 2009 and another in 2012-2013—constituting the so-called double-dip recession.
Six noted that the economic rebound which begun in the second quarter of 2013 had already peaked, and that growth would now stabilize around the flatline. “We will probably avoid a triple-dip recession, but it will be a near-miss,” the Paris-based economist said.