The economic activity will continue to expand at a moderate pace in the euro zone in the coming months, based on the evolution of the Conference Board (CB) leading economic index. That index increased by 0.7 % in November according to data published today by the CB. From May to November, it increased by 3.3 % compared to 4.7 % during the six preceding months.
Forecasts of GDP growth for the euro area in 2011 go from a low of 0.9 % to a high of 2.1 %, with an average of 1.4 %, according to The Economist poll of forecasters (December 11 edition). The difficulties of financing the public debt of many countries and their eventual consequences on the european banking system are the main downside risk to the economic outlook for the euro zone.
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