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Euro zone economy may avoid recession, Centeno says

Tuesday, January 17, 2023
Euro zone economy may avoid recession, Centeno says © Reuters. European Central Bank (ECB) governing council member Mario Centeno speaks during an interview with Reuters, in Lisbon, Portugal, March 15, 2021. REUTERS/Pedro Nunes

FRANKFURT (Reuters) - The euro zone economy may have outperformed expectations last quarter and ended 2022 with positive growth, European Central Bank policymaker Mario Centeno told the World Economic Forum in Davos.

"I also think that the economy has been surprising us quarter after quarter; the fourth quarter in Europe will be most likely still positive," Centeno said. "Maybe we'll be surprised also in the first half of the year."

The ECB predicted negative growth in both the fourth and first quarters before a rebound, so a positive outcome in the final months of 2022 would mean the bloc would avoid a recession, normally defined as two consecutive quarters of negative growth.

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29-05-2023 16:34:04 (UTC+7)

EUR/USD

1.0718

-0.0001 (-0.01%)

Summary

Sell

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EUR/USD

1.0718

-0.0001 (-0.01%)

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Sell

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Buy (1)

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GBP/USD

1.2343

+0.0004 (+0.03%)

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USD/JPY

140.22

-0.38 (-0.27%)

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AUD/USD

0.6542

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USD/CAD

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EUR/JPY

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-0.48 (-0.32%)

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EUR/CHF

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 EUR/USD1.0718Sell
 GBP/USD1.2343↑ Sell
 USD/JPY140.22↑ Sell
 AUD/USD0.6542↑ Buy
 USD/CAD1.3597Neutral
 EUR/JPY150.27↑ Sell
 EUR/CHF0.9683Sell
 Gold1,963.25↑ Buy
 Silver23.378Buy
 Copper3.6790↑ Buy
 Crude Oil WTI72.59↑ Sell
 Brent Oil76.78↑ Sell
 Natural Gas2.441↑ Buy
 US Coffee C180.75↑ Sell
 Euro Stoxx 504,336.55↑ Sell
 S&P 5004,205.45↑ Sell
 DAX15,985.35↑ Sell
 FTSE 1007,627.20↑ Sell
 Hang Seng18,551.11Neutral
 Small Cap 20001,773.02↑ Buy
 IBEX 359,183.48↑ Sell
 BASF46.900↑ Sell
 Bayer54.65↑ Buy
 Allianz207.27↑ Sell
 Adidas155.05↑ Sell
 Lufthansa9.225↑ Sell
 Siemens AG156.46↑ Sell
 Deutsche Bank AG9.700↑ Sell
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