Europe Economic Pulse: History Revisited

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This slowdown rivals with the most serious at least since the oil shock of the 1970s, and, for some countries, we have to look further back to the late 1940s to find a larger fall. That does not mean, however, that it compares to the crises that followed the two World Wars or the Great Depression. Some countries could start to stabilize as early as the third quarter of 2009 as destocking ends, though most will not return to growth until the second half of 2010.

LISTEN to the Economic Pulse debrief by the report's author, David Hutchings, Head of European Research Group.
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