US EditionHeatwaves may cut GDP by 0.5 pct points in Europe, Allianz says
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In a study on Tuesday 1 July, the Allianz Trade insurer estimates that recent heat waves could reduce the growth of European gross domestic product by 0.5 percentage points and in France by 0.3 percentage points.
·Paris, France
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The continent has temperatures above 32 degrees Celsius.
Global growth remains sluggish at +2.5% in 2025. It is the slowest since 2008 outside recession times.
Extreme temperatures also reduce work productivity
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