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SPEU - Eurozone Services PMIs And GDP Forecast - Technical Recession Ahead At Best
SPDR® Portfolio Europe ETF
It's looking like a eurozone recession
We should distinguish between recession - two quarters of falling output - and technical recession - a recorded fall in output. The eurozone as a whole - not just German industrial production - looks like it will meet that second definition in the near future. Manufacturing already is, Germany probably already is, it's the extension of this to the whole eurozone which is new.
What we do about it is the problem of course. The ECB doesn't really have any room left to loosen monetary policy. Fiscal policy remains