Euro economic growth on pause
The euro area economy is stagnant but not in recession - yet - according to a new CEPR committee set up to date the euro-area business cycle. The committee seeks to emulate the NBER in the US, which has performed a similar role since 1980. Using data compiled by the ECB and the OECD, the committee has identified three recessions since 1970, one each for the 1970s, 1980s and 1990s. Performance in the 21st century has been flat: cumulative GDP growth in the euro area has been only 1.1% from the
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