Europe's GDP: Going Down

Jan. 13, 2005
By John S. McClenahen In the wake of France's and Germany's poorer-than-expected GDP growth numbers for this year's first calendar quarter, the London-based European Economics unit of UBS Warburg has revised downward its projected growth rates for the ...
ByJohn S. McClenahen In the wake of France's and Germany's poorer-than-expected GDP growth numbers for this year's first calendar quarter, the London-based European Economics unit of UBS Warburg has revised downward its projected growth rates for the 12-nation "eurozone." UBS Warburg now projects just 2% collective GDP growth for the dozen European countries now using the euro; the previous forecast was for 2.4% growth. Germany is the main culprit, with its GDP growth for 2001 now expected to be only 1.3%, down seven-tenths of a percentage point from the earlier forecast of 2% growth. "The [German] consumer has gone on an unexpected buyer's strike, caused by higher-than-expected energy and food prices, increased indirect taxes, and a stagnant labor market," relates UBS Warburg.

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Shifting Your Business from Products to Service-Based Business Models: Generating Predictable Revenues

Oct. 27, 2023
Executive summary on a recent IndustryWeek-hosted webinar sponsored by SAP

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!