EFN Report Autumn 2012: Economic Outlook for the Euro Area in 2012 and 2013
In the autumn of 2012, economic growth in the world is rather anemic; production in most regions has been weak for some time: the recovery in the US began to slow down early this year; production has been shrinking in the euro area and in Britain since the autumn 2011; and the temporary rebound of production in Japan appears to have ended this summer. Already in 2011, economic expansion in emerging markets, and in China in particular, began slowing down markedly. World trade has all but stagnated in the first half of 2012.
