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January, 23, 2017

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Eurozone recovery edges ahead as unemployment stays high: surveys

PARIS--The eurozone economy is expected to recover steadily in the first quarter of this year with growth of 0.4 percent pulled by industrial production, but then flag slightly, three top forecasting bodies said on Monday.

Threats to this outlook came from a slowing of demand from emerging economies, and tension over Ukraine.

But this improvement will have scant effect on high eurozone unemployment, largely because consumers' buying power has been crimped by austerity measures in some eurozone countries and by the effects of unemployment.

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