(Reuters) – J.P.Morgan on Wednesday forecast a “milder” fourth-quarter contraction in the euro zone after strong resilience of the household sector resulted in a better-than-expected economic growth in the prior quarter.
The brokerage now expects the economy to shrink 0.5% quarter-on-quarter, compared with its previous forecast of a 1.25% contraction.
(Reporting by Subhadeep Chakravarty in Bengaluru; Editing by Sherry Jacob-Phillips)
