New nationwide lockdowns in France, Germany, the UK and tighter restrictions in Italy and Spain are likely to significantly compress the GDP of the European service sector, he said. Fitch Ratings on Friday, as reported Reuters.
Additional conclusions
“Double dip recession in Europe will weigh on global recovery”.
“A weaker European recovery will affect global growth next year, but our forecasts for 2021 in China and the United States have not changed.”
Market reaction
This report does not appear to have a significant impact on the performance of the shared currency against its rivals. At the time of writing, the pair EUR/USD it was up 0.4% on day 1.1870.
.
Credits: Forex Street
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
