Confidence in eurozone dives
Friday 27 April 2012
Confidence plunged again in the eurozone this month as austerity bites and the single-currency bloc heads towards an all-but-inevitable recession, the European Commission warned yesterday.
The deeper-than-expected slide in its April confidence measure comes two weeks ahead of official figures, expected to confirm a double dip after a 0.3 per cent slide at the end of last year.
Christoph Weil, a senior economist at Commerzbank, said: "The situation is worsening again. Periphery countries are behind budget targets with their economies deep in recession."
The European picture was in contrast to a slight improvement in the Nationwide's UK confidence index for March.
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