12/16/2020, 6:11 PM (Source: TeleTrader)
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Gentiloni: Euro area to show first signs of recovery in Q1

European Union's Economy Commissioner Paolo Gentiloni (pictured) said on Wednesday that he expects the first signs of recovery to be seen in the first quarter of 2021.

"Uncertainty is still there for the winter that is coming. All in all, we can expect to see the first green shoots of recovery in the first quarter next year, but this is still subject to high risk," the official stated.

Looking at the current year, Gentiloni stated that while the economic bounceback was larger-than-expected in the third quarter, the drop experienced in the final three months will also be worse than first anticipated.

Baha Breaking News (BBN) / MD