David Buik: Eurozone on brink of recession

David Buik: Eurozone on brink of recession

The eurozone economy recorded its joint-weakest growth in four years this week in the latest of the dreary economic data to hit the bloc.

Italy officially announced on Thursday it had plunged into a recession, sparking fears it could have a crippling effect on the rest of the eurozone economies. Gross domestic product (GDP) in the 19 countries sharing the single currency rose by 0.2 percent for the final three months of 2018, meaning it was stuck on its slowest pace of growth since 2014.

David Buik, a markets commentator for Core Spreads, told LBC’s Nigel Farage about an economic slowdown: “0.2 percent strikes me that you are staring over the precipice of a recession.

“Italy, as we know, is in a recession -0.2 percent last time.

“Spain, funnily enough, ironically, is the best performing of the European economy and is up 0.7 percent in the last quarter. But then again, that is from an extremely low level.

“And dear old Blighty – here we are that everybody seems very happy to slag off – we are doing extremely well by comparison – not great but 0.3 percent up until the three months until the end of November.

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