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Is the Eurozone recovery now wobbling?

Today we saw confirmation that the recovery in the Eurozone economy may not be as robust and strong as many people had assumed. Unemployment in the third quarter in the Eurozone fell by 0.5% quarter on quarter and by 2.1% year on year. There was also a reduction in industrial output of 0.6% month on month and 11.1% year-on-year. So what does this mean for the future of the Eurozone economy?

There is no doubt that the figures issued today, although very much in line with many expectations, have dampened hopes of a short-term recovery in the Eurozone economy. Whether this is just a short-term setback on a long-term road to recovery is open to debate but the very fact that the recovery in the Eurozone appears to be fragile at best is of great concern to investors and money market participants.

There are concerns that European governments will now be forced to borrow more and more money to support their own economies and invest into public services. Even though the UK is outside of the Eurozone, it is very much part of the European market and as such will be impacted to a certain extent by the reduction in economic activity elsewhere in Europe.

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