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Europe Revival Will be 'Sluggish'

CANNES-Lower interest rates should help revive the economy of Western Europe, but do not expect miracles says a new report from Lend Lease

By Charlie Jacoby | Updated on March 06, 2003

CANNES-Lend Lease Real Estate Investments predicts that lower interest rates will help Western Europe’s economies back on their feet, but it says that recovery will be ‘sluggish’.

Directions Europe 2003 makes three other key predictions for 2003. It says real GDP growth will accelerate from 0.7% in 2002 to 1.3% this year. It expects the recent strength of the euro against other key currencies to continue. And it believes that slow growth in 2003 will erode an already low inflation rate, with overall inflation softening from 2% to 1.5%.

Lend Lease predicts that Germany will remain one of the slowest-growing euro-zone economies in 2003. France will continue to experience slow growth until recovery takes hold in 2004. and Italy will continue to suffer from relatively high inflation.

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