BREAKING NEWS

Poll: Euro zone recovery hopes fade further into 2013

By REUTERS

DECEMBER 12, 2012 16:58

LONDON - Chances of a recovery for the euro zone economy have faded further into 2013, according to a Reuters poll of economists who say the recession has deepened over the last three months.

Huge questions over the health of some of the region's biggest economies make any kind of major rebound for the euro zone extremely unlikely next year. That may have to wait until 2014, and quite possibly later.

The currency union will see no better than stagnation early next year, before finally achieving paltry growth of around 0.2 percent in the second quarter, Wednesday's poll of more than 70 economists showed.

The outlook represents a new low since Reuters started polling on the 2013 outlook in January. No economist in the survey now believes the euro zone economy grew in the current quarter.

Overall, economists expect a full year average growth rate of zero for next year.

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