Name: Eurozone is on the brink of recession after output fell for the first time since the pandemic - Worldtimetodays
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Eurozone is on the brink of recession after output fell for the first time since the pandemic - Worldtimetodays

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The euro zone is on the brink of recession after output fell for the first time since the pandemic.According to the statistics agency Eurostat, gross domestic product fell by 0.1 percent in the entire currency area in the third quarter of the year.It was the first quarterly decline since lockdowns in spring 2020 and came as the region was weakened by the weakening German economy.Production slump: The statistics agency Eurostat announced that gross domestic product fell by 0.1% across the currency area in the third quarter of the yearSeparate figures from Eurostat showed inflation fell from 4.3 percent in September to 2.9 percent in October – the lowest level since July 2021 and closer to the 2 percent target.The decline in inflation and decline in output underscored the drastic impact of rising interest rates on the economy.Interest rates in the UK are believed to have peaked and the Bank of England will leave them at 5.25 per cent tomorrow.Economists warned that the outlook in the euro zone was bleak and that a further contraction of a quarter was possible in the final three months of the year.That would plunge the region into recession.Some links in this article may be affiliate links. If you click, we may receive a small commission. This helps us finance This Is Money and keep it free to use. We don’t write articles to promote products. We will not allow a commercial relationship to compromise our editorial independence.

The euro zone is on the brink of recession after output fell for the first time since the pandemic.According to the statistics agency Eurostat, gross domestic product fell by 0.1 percent in the entire currency area in the third quarter of the year.It was the first quarterly decline since lockdowns in spring 2020 and came as the region was weakened by the weakening German economy.Production slump: The statistics agency Eurostat announced that gross domestic product fell by 0.1% across the currency area in the third quarter of the yearSeparate figures from Eurostat showed inflation fell from...

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Eurozone is on the brink of recession after output fell for the first time since the pandemic - Worldtimetodays

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