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"The economic slump will accelerate in the coming months"
- Christoph Weil, economist at Commerzbank
The Euro Zone economy grew 0.2 percent in the third quarter compared to the previous three months fuelling concerns the bloc may slide into recession in forthcoming months, according to the figures released by the Eurostat agency on Tuesday.
"The economic slump will accelerate in the coming months," said Christoph Weil, economist at Commerzbank. "We expect real GDP to already fall in the closing quarter of 2011 at a rate of 0.25 percent on the third quarter," he said.
"The uncertainty caused by the sovereign debt crisis is lying like mildew upon the euro zone economy. Plunging sentiment indicators for months suggest that the euro-zone economy will slide into recession at the turn of the year," added Mr. Weil.