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Omicron won’t cause euro-zone to contract in Q1

Omicron will reduce economic activity in the coming weeks due to tighter restrictions, consumer caution and absenteeism. Our best guess is that economic activity in the euro-zone will decline in January but for now we assume it will rebound in February. We are pencilling in GDP growth of 0.5% q/q in Q1.
Andrew Kenningham Chief Europe Economist
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European Data Response

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European Data Response

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