Bloomberg News

S&P Report Says Europe Faces Rising Risk of ‘Double Dip’

October 04, 2011

Oct. 4 (Bloomberg) -- Deteriorating business sentiment in European markets and a projected slowdown of growth in the U.S. is weighing on economic prospects for Europe, Standard & Poor’s Ratings Services said today in a report.

S&P now forecasts GDP growth in the eurozone to be 1.1 percent in 2012, compared with 1.5 percent in its earlier projection. For the U.K., S&P expects GDP growth rate of 1.7 percent in 2012, slightly below its 1.8 percent projection made in August.

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To contact the reporter on this story: Maria Ermakova in London at mermakova@bloomberg.net

To contact the editor responsible for this story: Chris Peterson at cpeterson@bloomberg.net


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