Thursday, February 14, 2013

Euro Zone recession not going away (GDP down)

4Q 2012 the Eurozone GDP fell 0.6%, its third straight decline [anualized value]. Full 2012  = - 0.5%.
Country-by-country: ITALY -3.7%
                                SPAIN -2.8%
                              GERMANY -2.3%
                              FRANCE  -1.1%
PORTUGAL and GREECE too low to advertise here!

This is significant because the US economy is tied by trade to the Eurozone. When they can afford fewer imports, our exports will suffer.

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