Europe set for period of slow growth

By Jeff Taylor, a fund manager at Invesco Perpetual Modest levels of economic growth in the eurozone have been eroded further since the spring and leading economic indicators in many countries have deteriorated. Worst affected has been Germany, which accounts for about 30% of the eurozone economy. Here, business surveys have been slipping, consumer spending has deteriorated and unemployment has risen. The countries that make up the remaining 70% of the eurozone have been less badly afflicted. In France and Italy, for instance, consumer spending has been growing in recent mont...