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EZ Industry, Spending Falters in Late 2011

A collapse in household spending, exports and manufacturing sucked the life out of the euro zone’s economy in the final months of 2011, the EU said on Tuesday, showing the scope of the downturn that looks set to become a fully fledged recession.

Output in the 17 countries sharing the euro shrank 0.3 percent in October to December from the third quarter, the European Union’s statistics office Eurostat said, confirming an earlier estimate released last month.

European households, suffering from deep cuts in government spending and rising unemployment, reduced their spending by 0.4 percent, while government expenditure fell 0.2 percent in the fourth quarter. Imports into the euro zone fell 1.2 percent.

Reuters [1]

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Dean Popplewell

Dean Popplewell [6]

Vice-President of Market Analysis at MarketPulse [7]
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell
Dean Popplewell

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