Standard & Poor's still rejects Europe, and above all Italy and Spain, affirming, in a report, that the recession shows no signs of stopping, but, indeed, risks further intensifying
The rating agency, in fact, honce again cut its estimates on the Eurozone economy, predicting a drop in GDP of 0,8% (against the previous estimate, in July, of -0,7%) for the current year and zero growth for 2013 in a report.
Also down Spanish GDP estimates, especially those concerning 2013, which went from -0,6% to -1,4%, and on that Italy, for which it expects a contraction of 2,4% in 2012 (-2,1% in July) and 0,6% in 2013 (-0,4%).
But to suffer, as mentioned, will be the whole European economy, for which, according to Jean-Michael Six of Standard & Poor's, “The economic indicators continue to paint a gloomy picture. The data confirm that the area is entering a new period of recession".