Euro Zone Is in a Subdued Recovery: Gudin

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Oct. 24 (Bloomberg) –- Barclays Capital Chief European Economist Philippe Gudin discusses the expected Euro Zone PMI numbers and the overall health of the region with Mark Barton on Bloomberg Television’s “Countdown.” (Source: Bloomberg)

February 2012. how significant is that?

Data in terms of survey which concludes that the european economies are getting out of this time of greek -- week growth or recession.

Frampton not really experience a recession.

But it did not grow for a long time.

-- france did not really experience a recession.

It should show a slight improvement on the above 50 position.

What does this tell us, phili ppe, about the health of the eurozone?

It is on track.

We should not be too enthusiastic about this recovery.

It is good news because i think it puts an end to this long recession.

We might hope to see some kind of stabilization in the labor market.

Looking forward, it will take some time before it translates into a real decline in unemployment which is what people want to see and feel.

They want to see an unemployment number from spain and italy which should stay in the region of 25%-26%. the news on growth in the region was encouraging.

Very encouraging.

Spain as well as getting out of a recession.

Again, there is no clear growth driver.

Spain has been able to get out of a recession and i think the good news is really that the reforms are eventually paying off.

The pace of reform has been quite fine in spain.

For spain to remain competitive.

They also need to clean up balance sheets to get rid of this very high level of debt and this will be a driver of growth for several years to come.

Philippe gudin, chief

This text has been automatically generated. It may not be 100% accurate.

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