The “new normal” of economic growth has been around 2-2.5%. In 2016, overall GDP growth stood at 1.6%. Economic activity decelerated in the first quarter of 2015 to 1.4% annualized. The euro-zone has surpassed the US in growth. Everybody is expecting a pickup in the second quarter, to around 2.5% annualized, but there are reasons [...]
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