Europe in Recession
The Business Cycle Dating Committee of the Centre for Economic Policy Research (the European counterpart of the U.S. NBER) last week issued a declaration that Europe entered a new recession a year ago, dating the business cycle peak at 2011:Q3. Euro area real GDP, 2009:Q1 -2012:Q2 (normalized by 2011:Q3 = 100). Source: CEPR Interestingly, although [...]
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