They said it – views from 2010 about 2011 revisited
As the end of 2011 draws near, predictions for 2012 are coming thick and fast. Yet, who can claim to have clairvoyant abilities and who is just hoping last year’s analysis will be buried with their financial losses? InvestmentEurope brings you a series of brief outlooks for 2011 as they were.
Richard B Hoey, Chief Economist, BNY Mellon:
Our assumption for the European economic outlook for 2011 is that the euro will probably remain intact but that peripheral countries will remain weak due to the hangover from the credit boom. We expect a strong German economy and continued expansion in other core countries. The net result is likely to be a real GDP growth rate for Europe near 1.5% to 2.0%, led by strength in Germany.