Published 4 months ago

Eurozone slips into recession as revised data shows two quarters of economic contraction

The European economy contracted slightly in the final three months of 2022 and first three months of this year due to the loss of Russian natural gas and high inflation on consumer spending.
Economic output in the Eurozone dropped 0.1% in both quarters, leading to two consecutive quarters of decline, which is one definition of a recession.
However, the panel of economists that declares Eurozone recessions use a broader set of data, including unemployment figures, and unemployment is at its lowest level since before the creation of the Euro in 1999.

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Times of India

Eurozone in recession at the start of 2023

The Eurozone has been confirmed as entering a 'technical recession' after the region shrank by 0.1% in Q1 2023, marking two consecutive quarters of contracting GDP. The slowdown comes after higher energy prices contributed to curbing demand in Europe's largest economy and surging inflation.

4 months ago·India

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BBC News

Eurozone in recession as rising prices hit spending

Revised data shows the eurozone's economy contracted at the end of last year and the start of 2023.

4 months ago·United Kingdom

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The Guardian

Eurozone sinks into recession as cost of living crisis takes toll

GDP shrank 0.1% in first quarter of 2023 and final three months of 2022 after revisions to earlier estimates

4 months ago·London, United Kingdom

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Reuters

Euro zone saw winter recession, more challenges ahead

The euro zone economy fell into a technical recession in the first three months of 2023, data from statistics agency Eurostat showed on Thursday as signs emerge that central bank rate hikes will crimp the region's future growth prospects.

4 months ago·United Kingdom

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Daily Express

Eurozone economy plummets into a recession with Germany now the 'problem child'

Latest data shows the single currency area is contracting with the former powerhouse economy racked by the ongoing recession

4 months ago·United Kingdom

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NDTV

Eurozone Entered Into Technical Recession At Start Of 2023: Report

The eurozone entered into a technical recession at the start of the year, shrinking by 0.1 percent for a second consecutive quarter, figures from the EU's statistic agency showed Thursday. Eurostat revised down an earlier forecast that had predicted slight growth, after economic powerhouse Germany said last month it had fallen into recession. The worse-than-expected figures come as inflation and higher interest rates have curbed demand in Europe…

4 months ago·New Delhi, India

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