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The economic recovery in the euro area lost momentum in 2004. After a strong increase during the first half, real GDP rose at an annual rate of less than 1 percent in the following two quarters. Overall capacity utilization, which had increased in the first half of 2004 for the first time in...
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the first half of 2005. Later on, the negative effects will fade, and economic activity will accelerate somewhat. We … expect real GDP to increase by 1.4 percent in 2005; the unemployment rate will remain high. Next year, the recovery will gain …
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The economic situation in the euro area continues to be weak. In the course of 2003, real GDP has only stagnated. Several factors prevented the expected recovery to materialize. Last year’s collapse of stock prices dampened activity, so did the high oil price. In addition, the uncertainty in...
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