European Central Bank survey points to shallower recession, strong rebound


FRANKFURT (Reuters) - The euro zone economy may contract less this year than the European Central Bank had forecast and its recovery could also be quicker, the bank's Survey of Professional Forecasters showed on Friday. The quarterly survey sees the economy shrinking by 8.3% this year, a downgrade from its May projection for a 5.5% drop but a more benign outcome than the ECB staff's own estimate for an 8.

7% drop. For next year, growth is seen at 5.7%, above the ECB's staff's 5.2% estimate in June. Although the euro.....

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