Eurozone Economy Faces Another Bad Year

Hopes that the 17-member eurozone will finally emerge from its economic doldrums this year have faded, with new data Friday showing the recession in the euro area deepening even more than originally expected.

There were some bright spots in a slew of new European economic data, but the short-term prognosis for the 17-nation eurozone is not good. Overall growth is expected to shrink by 0.4 percent this year – deeper than the 0.3 percent forecasted earlier this year. And the eurozone’s …

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