The GDP figures that arrived yesterday point to economic contraction again in Q3 and Merrill Lynch analysts, with a little help from ECB’s Area-wide leading indicator (ALI), expect more to come: “The ALI points to continued contraction in 4Q but followed by stabilization at the end of the first quarter. This is in line with our forecast, which envisages stagnation during 2Q 2013”, added Reis.
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