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Euro Zone Expected to contract for a Fourth Consecutive Quarter

“The euro zone appears to be heading for a fourth consecutive quarter of economic contraction, as surveys of purchasing managers indicate business activity shrank at a faster pace in February.

That will likely feed calls for a reconsideration of the euro zone’s strategy for tackling its fiscal and banking crises, which has relied heavily on austerity programs that have had a larger negative impact on growth than policy makers had expected.

In the wake of Italian elections in which voters largely rejected parties that favored austerity, euro-zone policy makers have said more emphasis should be given to boosting growth and jobs, although they have yet to say how that can be accomplished….”

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