ECB council member Ewald Nowotny said the central bank will lower its forecast for euro-area’s economic developments in 2012 and 2013 when it publishes estimates next week.
- Expectations will worsen: Nowotny
- Gap between north and south to widen
- All southern economies to shrink in 2012, France to stagnate: Nowotny
- NOTE: ECB staff forecasts due Sept. 6. In June, forecast was for 0.1% contraction in euro area this year, 1.0% growth in