Economists Query Whether Euro Zone Has Emerged From Recession
The Euro Area Business Cycle Dating Committee of the Centre for Economic Policy Research, a network of over 700 economists who name and analyze periods of European economic expansion and recession, has decided to continue calling the current economic climate in Europe a Recession. Their decision is based on both the European Central Bank?s decision to cut interest rates even further, the stagnation of European wages, and the lack of evidence showing that Europe will do more than just sustain the current growth pattern. Although wages across the Euro-zone slowed during the first three months of 2014, wage growth still outpaced consumer price inflation. In addition, the unemployment rate fell in April as more jobs opened up and more vacancies went unfilled during a three-month average ending in March compared with a three-month average ending in December.
See "Economists Query Whether Euro Zone Has Emerged From Recession", Paul Hannon, The Wall Street Journal, June 16, 2014