(Bloomberg) -- Euro-area confidence has clearly been shaken, meaning that economic weakness could persist for longer than initially expected. But from what Bloomberg Economics sees, January is unlikely to have been the first month of a fresh recession. Ahead of the 2011-2012 euro-area crisis early indicators such as the Sentix six-month ahead economy expectations survey turned down sharply and while current readings are consistent with a steep slowdown, it's nowhere near the same scale as before.
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