European Commission predict eurozone rebound

EUROPE - The eurozone economy may have shrunk during the last three months of 2001, but it is due for a rapid rebound, the European Commission has calculated.

Growth in gross domestic product (GDP) across the 12-member eurozone over the October to December period is likely to have fallen within the range of minus 0.3% to plus 0.1%, the commission's new economic forecasting model has estimated.

A performance within this range would mean that the eurozone has continued to avoid an out-and-out rec