Well, everyone agrees today is a Valentine’s Day massacre, with growth slashed (or, I suppose, riddled with bullets) worldwide.
- In Japan, GDP shrunk by 0.1 per cent in the last quarter against expectations of 0.1 per cent growth.
- In Germany, GDP contracted by 0.6 per cent in the last quarter.
- In France, it fell by 0.3 per cent over the same period.
- In Italy, by 0.9 per cent.
- Portugal declined by 1.8 per cent.
- In Greece, GDP is reported in comparison with the same quarter in the previous year. The level at the end of Q4 2012 was 6 per cent lower than in Q4 2011.
- The Eurozone as a whole contracted by 0.6 per cent, worse than expectations of a 0.4 per cent contraction.
That’s the worst performance in almost four years for the Eurozone, and an alarming decline on even the post-crisis trend, as this chart from Natixis Asset Management’s Philippe Waechter, via Business Insider, shows:
Not a very happy Valentine’s day for most of Europe, then.
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