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The Conference Board Economics Watch® - European View

Recovery Takes Hold in Euro Area, but Economy Will Only Grow at a Modest Pace for Rest of 2013

  • Euro Area GDP rose modestly in the second quarter, with conditions in most economies strengthening.
  • Business and consumer confidence continue to improve, but are still at fairly low levels.
  • The Conference Board Leading Economic Index® (LEI) for the Euro Area continued rising in July.
  • A slow recovery will take a long time to undo the legacy of economic contraction and high unemployment since 2008, especially because protracted periods of high unemployment reduce the capabilities of workers for the long term.
  • Emerging market slowdown and potential financial risks are constraints on the strength of recovery.

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