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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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07-06-2023 04:51:10 (UTC+7)

EUR/USD

1.0695

+0.0002 (+0.02%)

Summary

↑ Sell

Moving Avg:

Buy (4)

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EUR/USD

1.0695

+0.0002 (+0.02%)

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↑ Sell

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GBP/USD

1.2422

-0.0002 (-0.02%)

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USD/JPY

139.65

+0.01 (+0.01%)

Summary

Neutral

Moving Avg:

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AUD/USD

0.6670

-0.0001 (-0.01%)

Summary

Buy

Moving Avg:

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EUR/JPY

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 EUR/USD1.0695↑ Sell
 GBP/USD1.2422Sell
 USD/JPY139.65Neutral
 AUD/USD0.6670Buy
 USD/CAD1.3401↑ Sell
 EUR/JPY149.36Buy
 EUR/CHF0.9708Neutral
 Gold1,979.35Neutral
 Silver23.668↑ Sell
 Copper3.7655↑ Sell
 Crude Oil WTI71.45↑ Sell
 Brent Oil76.13↑ Sell
 Natural Gas2.259↑ Sell
 US Coffee C184.08↑ Buy
 Euro Stoxx 504,295.22Sell
 S&P 5004,283.85Buy
 DAX15,992.44↑ Sell
 FTSE 1007,628.10↑ Sell
 Hang Seng19,099.28↑ Buy
 Small Cap 20001,856.34↑ Buy
 IBEX 359,310.80↑ Buy
 BASF46.760↑ Sell
 Bayer52.28↑ Buy
 Allianz210.50Sell
 Adidas159.68Neutral
 Lufthansa9.141↑ Buy
 Siemens AG158.36Neutral
 Deutsche Bank AG9.784Neutral
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