Euro-economies creaking to a halt

It's like a slow motion train wreck as European economies are showing stagnation and a slowing pace of growth. There are fears that the projected 0.2% growth for the quarter will actually slide into negative territory, heightening fears of another recession. Reuters: Economists polled by Reuters last month predicted third- and fourth-quarter growth of 0.2 percent, but Markit said the result could be even weaker. "A mild output contraction in September sits in stark contrast to the buoyant pace of expansion seen at the start of the year, suggesting that the economy will have stagnated in the third quarter as a whole," Markit's chief economist Chris Williamson said. "Even more disappointing is the steep drop in new business, which suggests that (gross domestic product) will contract in the fourth quarter unless business and consumer confidence rally in coming weeks." Ailing stock markets bounced Wednesday after Europe's finance ministers agreed to shore up euro zone banks against the...(Read Full Post)