Tuesday, May 05, 2009
What does this mean for House Prices?
Independent: Brussels doubles EU recession forecasts for 2009
The European Commission has revised economic forecasts sharply downwards and pushed recovery predictions out to the second half of 2010 in the face of the "deepest and most widespread recession in the post-war era". Brussels is now expecting Europe's GDP to contract by 4 per cent this year, twice the 1.8 per cent predicted just three months ago. The slump will also last longer, with a further decline of 0.1 per cent in 2010, compared with earlier forecasts of 0.5 per cent growth!!
Posted by alan @ 10:57 AM (283 views) Add Comment
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