Economic growth estimates for the euro area for the third quarter have been revised downwards: the GDP recorded an increase in 0,1%, according to the latest Eurostat data. The Statistical Institute had previously indicated a +0,2% compared to the previous three months. In the period January-March 2011, however, the GDP of the euro area had recorded a +0,8%.
The weakening trend confirms the fears of a relapse into recession in the currency area towards the end of 2011. The news had an immediate effect on the Stock Exchange: Piazza Affari turned red (-0,46%). All the other European markets were also bad: London (-0,44%), Paris (-0,07%) and Frankfurt (-0,39%).
