Bloomberg News

S&P Report Says Europe Is ‘Heading Back Into Recession’

December 01, 2011

Dec. 1 (Bloomberg) -- High frequency indicators in the past month continue to depict Europe’s “darkening economic landscape,” Standard & Poor’s said in its report “European Economic Outlook: Back in Recession,” published Nov. 30.

“Our baseline forecast of a mild recession has a 60 percent probability, while a more severe recession has a 40 percent probability,” Jean-Michel Six, chief economist in Europe for Standard & Poor’s said.

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