Bloomberg News

Berenberg’s Schmieding Predicts ‘Modest Recession’ for Europe

September 30, 2011

Sept. 30 (Bloomberg) -- “Europe is probably going to fall into recession in the fourth quarter,” said Holger Schmieding, chief economist at Joh. Berenberg Gossler & Co. in London.

“Leading indicators are pointing to a modest recession,” and the European Central Bank “will probably go to a softer stance soon,” Schmieding said in a radio interview on “Bloomberg Surveillance” with Ken Prewitt and Tom Keene.

To contact the reporter on this story: John Tucker in New York at jtucker@bloomberg.net

To contact the editor responsible for this story: Stefanie Batcho-Lino at sbatcholino1@bloomberg.net


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