Reporting from Europe “Park East Capital” European correspondent.
The recession in Europe has hit a new low this quarter. Exports from Germany and France took a sharp hit, which helped in the low.
“Park East Capital” expects that although it’s a new low it could well be the bottom. The signs are there to see that a recovery process is on the way so expect to see better quarters than the one just gone.
Records show that the last quarter was the worst in Europe’s history since 1995. Some survey [although not official] indicates that it’s the worst since World War Two.
“We still expect to see some horror story’s, especially with the unemployment figures as companies restructure. But the pace of the fall has halted and that is a good indication of the recession bottoming out,” explains “Park East Capital” head researcher.
Fears of another great depression earlier on in the year seem to have been diverted. The global effort to stop the rot using stimulus packages seems to be working.
But it is not just the Euro zone that has struggled it has covered most of the industrialized countries in the world.
But like the US, Europe and Asia are beginning to show signs of recovery. “Park East Capital” says that,” We have seen off the worst and you will now see consolidation in markets and restructuring of companies. Then new ventures will be popping up again creating a bull market.”
