Eurozone Economy Avoids Recession with Modest Growth in Q1.

The Eurozone economy grew by 0.1% in the first quarter of 2023, despite high energy prices and a rise in the cost of most basic goods. However, the recovery remains fragile, and the European Central Bank's efforts to cool inflation with higher interest rates are likely to suppress a more robust recovery across much of the continent in the months ahead. Inflation, at an annual rate of 6.9%, is still a major problem, and the European Central Bank is expected to raise rates yet again next month, raising the cost of doing business.