The German economy expanded less than forecast in the first quarter and France slipped into recession, increasing pressure on the European Central Bank to do more to stimulate growth.
Lending to households and companies in the euro area contracted for an 11th month in March as the region struggled to emerge from recession.
Switzerland’s central bank has a message for lenders: act now to stem surging credit growth or face further restrictions.
The Swiss central bank pledged to keep up its defense of the franc cap after almost doubling its currency holdings to shield the country from the fallout caused by the euro zone’s crisis.
Don’t bet the house on a robust revival of the U.S. property market, says the Yale University professor who predicted the bursting of the dot-com and subprime-mortgage bubbles.
German business confidence probably rose to the highest in almost a year in March, adding to signs that Europe’s largest economy will return to growth even as Cyprus inflames the region’s debt crisis.
Switzerland’s economy unexpectedly grew in the fourth quarter as a surge in consumer spending helped the economy battle the headwind of a strong currency.
The Swiss central bank spent 10 times as much in 2012 as it did the year before to defend the currency cap it implemented to shield the economy.
Swiss stocks rose, sending the country’s equity benchmark higher for a second day, as the economy unexpectedly expanded in the fourth quarter.
Switzerland’s economy returned to growth in the third quarter, expanding to the fastest pace since 2010 as exports soared.
"Germany is one of the few euro countries that grew at the beginning of the year."
- Alexander Koch on May 14, 2013