05 April 2012 11:00 [Source: ICIS news]
LONDON (ICIS)--The low point of the eurozone recession has already been reached, with growth to resume in the second quarter, Raiffeisen Bank International (RBI) said on Thursday.
On current indicators, Eurozone GDP will shrink by 0.5% in 2012, but grow by 1.1% in 2013, added Valentin Hofstatter, a research expert at Austria-based RBI.
Analysts at RBI said they had noted “the frail arrival of spring in the eurozone”.
But, Hofstatter said: “Survey indicators have tended to show a discernible improvement since the winter months. That is in line with our existing forecast that growth will resume in the eurozone from the second quarter.
He also noted increasing GDP divergence between core and peripheral euro states.
“It is interesting that the divergence is continuing to grow between the core euro countries clustered around ?xml:namespace>
Raiffeisen Research expert Veronika Lammer added that the large emerging market economies outside
The gradual loosening of monetary policy in
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