Saturday, November 29, 2008
Eurozone Sentiment at 15-Year Low
Confidence among Eurozone residents has fallen to a fifteen year low. The economic sentiment indicator has dropped to 74.9 from an already low of 80.0. The Eurozone has experienced two consecutive quarters of economic contraction; therefore, putting them into a recession. Because of this recession, the European Central Bank is expected to aggressively cut interest rates. To also help fix the problem, the European commission has a €200 billion recovery plan in hopes of saving jobs.
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1 comment:
At least they are still doing better against the pound. It is estimated that the London will be this shopping seasons headquarters, because of the weakening of the pound against the Euro and the dollar. Businesses there are welcoming the the new shoppers with longer hours, bigger sales, and friendlier service.
1 more point for ME!!
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