Berenberg’s Schmieding Predicts ‘Modest Recession’ for Europe

Europe is probably going to fall into recession in the fourth quarter,” said Holger Schmieding, chief economist at Joh. Berenberg Gossler & Co. in London.

“Leading indicators are pointing to a modest recession,” and the European Central Bank “will probably go to a softer stance soon,” Schmieding said in a radio interview on “Bloomberg Surveillance” with Ken Prewitt and Tom Keene.

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