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Chemical Week Magazine :: Cover Story
Europe: Gradual Recovery is Underway
2:00 PM MST | January 7, 2011
A gradual economic recovery is underway in Western Europe, driven by stronger exports and a rise in consumption and investment. â€śConfidence has rebounded and financial conditions have improved,â€ť says Pier Carlo Padoan, chief economist at the Organisation for Economic Cooperation and Development (OECD; Paris). However, the pace of recovery in the 16-nation Euro Area is likely to be slow â€śdue to ongoing private-sector balance sheet adjustments, necessary fiscal consolidation, and prolonged adjustment to large imbalances in some peripheral countries,â€ť OECD...
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