There’s little reason for cheer in Europe. While Germany narrowly avoided a recession in the third quarter, the latest numbers show the $13 trillion eurozone economy is stuck in first gear.
High unemployment, high debt and a lack of investment continue to hold the region back. And then there’s the risk of deflation, or at least a prolonged period of very low inflation. That will keep consumers and companies cautious and could condemn the region to years of stagnation.