BBC: Eurozone in recession as rising prices hit spending
The eurozone fell into recession this winter, revised figures show, as consumers were hit by rising prices.
The economy of the 20 nation-bloc contracted by 0.1% between January and March, after also shrinking in the final three months of 2022.
A recession is generally defined as when an economy shrinks for two three-month periods, or quarters, in a row.
As in other regions, the eurozone has been hit by rising food and energy prices that have weighed on households.
Spending by households in the bloc fell by 0.3% in the first three months of 2023, and by 1% in the previous quarter.
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Eurozone Have Officially Entered A Recession After Revising Figures
Eurozone fell into recession as energy prices soared -- Politico
Euro zone enters recession after Germany, Ireland growth revision -- CNBC
Euro zone saw winter recession, more challenges ahead -- Reuters
Eurozone officially entered recession after Eurostat revises figures -- SKY News
Eurozone sinks into recession as cost of living crisis takes toll -- The Guardian
3 comments:
Revised figures... 2+2=5....no wait a minute....
And after the fake job and inflation stats get readjusted in the US, we'll all find out that we've been in recession for last fiscal year plus.
BANANAS,
R,
Europe cut their own throats by goading Russia into attacking Ukraine, and then imposing disastrous sanctions that is only hurting Europe. Geniuses!
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