Eurozone Economy Contracts .6% in 4th Quarter; France Down .3%, Germany Down .6%, Italy Down .9%; Expect ECB Jawboning on the "Strong Euro"

As expected in this quarter (but not by economists) eurozone economies contracted at the sharpest rates in four years with Germany, France, and Italy falling short of consensus estimates. The eurozone consensus was .4%. The 17-nation bloc shrank at .6% quarter-on-quarter while the broader 27-nation bloc shrank .5% quarter-on-quarter.

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Eurozone Economy Contracts .6% in 4th Quarter; France Down .3%, Germany Down .6%, Italy Down .9%; Expect ECB Jawboning on the "Strong Euro"