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Euro bills. (Photo: dpa)
The mood in the eurozone economy deteriorated for the eleventh consecutive month in November. The barometer dropped from 0.2 to 109.5 points, as announced Thursday the European Commission. This is the worst value for a year and a half. Developments have been very different across sub-sectors: consumer confidence has deteriorated significantly, while service providers and the construction industry have changed little. In the industry, the barometer has even been on the rise, just like retailers.
At the country level, there was no uniform development. Germany has seen a noticeable increase, while Italy has seen a sharp decline. There was no sharp increase in France, Spain and the Netherlands.
The European Commission speculates that the gross domestic product in the monetary union will grow by 2.1% in 2018, 1.9% in 2019 and 1.7% in 2020. In the spring, it had estimated 2.3 % for the current and 2.0% for the coming year.
During the current year, there were signs of a significant slowdown in the global economy.
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