Return of Europe recession is bad news for U.S.
The Economics of Wall Street by Tony Fischer Photography
License (according to Flickr): Attribution License
License (according to Flickr): Attribution License
(MoneyWatch) The eurozone's return to recession is particularly bad news because it is now hitting once strong economies like Germany. This means the recession will last longer and have a bigger impact on U.S. consumers and companies. Figures released today showed that collectively the economies of the 17-country eurozone contracted by 0. 1 percent between July and September. While this is a slight improvement over the second quarter of the year when it shrank by 0. 2 percent, the definition of a recession is two straight quarters of contraction. Most analysts believe that the recession will continue at least until the end of 2012. "The recession in southern Europe is slowly creeping to other countries," says Martin Van Vliet, an analyst with ING.
People:
Howard Archer
Overall Sentiment: 0.124675
Relevance: 0.277756
| Sentiment | Quote |
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| 0.106956 | "Latest data and survey evidence remain generally weak, and the odds currently strongly favor the eurozone suffering further GDP contraction in the fourth quarter of 2012," he said. ... |
| -0.0464894 | "Latest data and survey evidence remain generally weak, and the odds currently strongly favor the eurozone suffering further GDP contraction in the fourth quarter of 2012," he said. "Significantly, Germany looks to be in severe danger of contracting in the fourth quarter, as does France." |
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Martin Van Vliet
Overall Sentiment: -0.142535
Relevance: 0.263428
| Sentiment | Quote |
|---|---|
| -0.116157 | "The recession in southern Europe is slowly creeping to other countries," says Martin Van Vliet, ... |
| 0 | "The recession in southern Europe is slowly creeping to other countries," says Martin Van Vliet, an analyst with ING. "If you look at the indicators for the fourth quarter you see that even Germany many not grow again and that shows that the economy has an enormous need for a new impulse." |
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Additional Info:
Country: Germany
Overall Sentiment: 0.0379525
Relevance: 0.770907
Disambiguation: Location | GovernmentalJurisdictionReferences:
Country: U.S.
Overall Sentiment: 0.0370916
Relevance: 0.377524
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Country: France
Overall Sentiment: 0.0627285
Relevance: 0.325423
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Continent: Europe
Overall Sentiment: 0
Relevance: 0.684173
Disambiguation: References:
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Source : http://feeds.cbsnews.com/~r/CBSNewsBusiness/~3/R-BkdAL2eqI/
- bailout
- bonds
- cbseuro
- default
- dpst cbseuro
- draghi
- ecb
- economy
- Europe
- european central bank
- financial crisis
- Germany
- Greece
- IMF
- international monetary fund
- italy
- portugal
- rajoy
- recession
- riots
- Spain
- unemployment
Webpage Provided Title:
Return of Europe recession is bad news for U.S.
Site Provided Desc:
Germany feels the impact as economic slowdown is no longer limited to nations crippled by debt crisis
Source : http://feeds.cbsnews.com/~r/CBSNewsBusiness/~3/R-BkdAL2eqI/
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