The Eurozone recession is not going to happen says BTFG's Chief Economist Chris Caton

Pendal Group

Pendal Group

The Eurozone recession is not going to happen says BTFG's Chief Economist Chris Caton. The region will record less than 1% growth for 2014, which isn't too stellar, but bear in mind output in the EU never actually fell last year and it's not a strongly growing area of the world. Recent growth concerns come from Germany, where Q2 GDP fell and August was a hideous month for industrial production, sparking fears of two successive quarters of negative growth. Whether or not this eventuates, the August weakness will almost certainly be transitory. Germany has had a poor few months, with growth expectations falling from 2.0% highs in July to just 1.4% in October, as a lot of industrial production fell - much of it related to the auto industry. It is worthwhile noting that, despite slowing global growth speculation, the consensus economics forecasts for global growth have remained steady for next year, with more growth expected in 2015 than in 2014. Click here to find out which external shocks to watch out for (VIEW LINK)


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