Press Comments

US, UK and Japan growth surges as euro zone falters (The Business)
The latest poll of European analysts from MJEconomics reveals that economists have slashed their growth forecasts for the euro zone to 0.5% this year, down from forecasts of 0.6% last month. The consensus for next year has remained at a sluggish 1.7% for the past three months.



Euro zone economies in crisis as France nears zero growth (The Business)
The euro zone is expected to grow by 0.6% for the year as a whole, according to a new poll by MJEconomics of leading euro zone countries, only Spain, with growth of 0.6%, will have seen its economy expand in the second quarter.



As U.S shows signs of strength, Global Economies Look Up, Too (Wall Street Journal)  
Still conditions remain frail. Even with expected economic upswing in the second half of the year, the euro-zone is projected to grow by just 0.6% this year, according to a consensus of forecasts compiled by MJEconomics, a U.K research firm. That would the weakest rate of growth since the 1993 recession - and even below the 0.9% predicted for Japan this year. Unemployment continues to rise in most countries - and is expected to continue to do so through the rest of this year. The region is expected to grow 1.7% in 2004.



Germany ’s Recession Clouds Growth Prospects in Europe (Wall Street Journal)
The outlook is worsening for Germany and a growing number of other euro members, such as Italy , Finland and the Netherlands , prompting economists to rapidly revise down their forecasts for euro zone growth this year. "You begin to wonder if this upturn is ever going to happen”, said Jeremy Weltman, a partner at MJEconomics, a U.K. research firm that calculates a consensus of estimates. “Everyone expected an upturn this year, but now everything is put off until next year, which is exactly what happened last year.” His latest consensus of 29 economists predicts 1% growth this year for the euro zone, but that was before last week’s disappointing growth numbers. He expects the consensus already has been halved in just the past few days.

Alice in euroland (The Business)
According to a poll of leading research teams across Europe by specialized consultancy MJEconomics, the consensus view for this year is now for growth of only 1% in 2003, compared with 0.8% last year.



Strong euro threatens EU economic growth (The Business)
Private sector economists believe that the euro zone will grow by only 1.3% this year, according to a poll of 28 research teams by MJEconomics, a specialist consultancy. Jeremy Weltman, a director of MJEconomics, warned that the strengthening of the euro in recent months will make life more difficult for exporters and will undermine the modest rebound in November industrial output seen last week.

German Economy Grew By Just 0.2% Last Year (Wall Street Journal)
As Germany's outlook deteriorates, economists have downgraded their growth projections for the eurozone as a whole. The euro area will grow by just 1.3% this year, according to the most recent consensus of 28 private-sector economists compiled by MJEconomics. That's half the rate expected as recently as last summer, according to the consensus.

Euro's First Noel Chimes Sour Note With Shoppers (Wall Street Journal)
For the 12 nations that use the euro, consumer spending for the full year is expected to rise just 0.6%, compared with a 1.8% increase in 2001, according to a consensus forecast complied by MJEconomics.



EU growth prospects are downgraded again (The Business)
Prospects for economic growth in the UK and the euro zone have been downgraded again. The euro zone economy as a whole is now expected to expand by only 0.9% according to a separate poll by MJEconomics, which means that private sector forecasters now agree with the European Commission that growth will be under 1% this year. Expectations have been revised down every month: growth was forecast at 1.5% in May, 1.4% in June, 1.2% in July, 1% in August and now 0.9%.

Europe’s fund managers regain confidence in US (The Business)
According to a new survey tracking asset allocation, the world’s biggest fund managers have begun increasing holdings of US shares for the first time since January. The survey coincides with aggressive downgrades from private sector economists for euro zone GDP growth prospects in 2002. According to MJEconomics, the consensus growth forecast of 24 leading European economists has been slashed to 1%, down from 1.2% in July, 1.4% in June and 1.5% in May.

Prospects for euro zone just keep getting gloomier (The Business)
Leading investment banks and research houses are downgraded their forecasts for growth in the euro zone on the back of falling equity markets, the stronger euro and an unexpected fall in manufacturing output in France and Germany. The euro zone economy is now expected to grow by only 1.2% this year, according to a new consensus forecast by MJEconomics, a specialised consultancy which tracks the views of euro zone experts. Last month, the consensus view was 1.3% and in May 1.4%, according to the poll of 25 research teams throughout Europe.

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