Monday, 12 November 2007

Soft Landing..For Europe?

"The European Commission cut its forecast for economic growth next year and said inflation may accelerate faster than previously anticipated as energy and food costs soar."

"European Central Bank council member Axel Weber today said there is a risk the ECB will fail to meet its price-stability objective for another two years."

"'Clouds have clearly gathered on the horizon,' EU Economic and Monetary Affairs Commission Joaquin Almunia said in a statement today. 'Economic growth is becoming more moderate and the downside risks have clearly increased.' "

"Still, recent data indicate growth in the euro-area economy is cooling. Manufacturing grew at the slowest pace in more than two years in October, and business and consumer confidence declined for a fifth straight month."

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