Salient to Investors:
German Q4 2012 GDP shrank 0.6 percent from Q3 versus the 0.5 percent contraction predicted by 47 economists. French and Italian GDP shrank more than forecast. OECD predicts global growth will accelerate to 3.4 percent in 2013.
Nick Kounis at ABN Amro Bank said euro-zone GDP growth is likely to have fallen sharply in Q4 – declining uncertainty and easing market tensions have planted the seeds for recovery, but it will be excruciatingly slow due to budget cuts and rising unemployment.
Alexander Koch at UniCredit said that things are looking pretty good for Germany but other euro countries face tougher headwinds – the euro area should return to growth in half2 2013.
Read the full article at http://www.bloomberg.com/news/2013-02-14/german-economy-contracted-more-than-forecast-in-4q.html
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