Eurozone in Technical Recession Amidst Rising Prices and Household Struggles.
TL;DR
The eurozone has fallen into recession due to rising food and energy prices that have hit household spending. 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. Revised data from Germany contributed to the move into recession. The bad news comes after a tough year for European economies, as surging energy prices sparked by Russia's war on Ukraine have driven up the cost of living.
- Eurozone in recession as rising prices hit spending BBC
- Eurozone Enters A Technical Recession NDTV
- Euro zone enters recession after Germany, Ireland growth revision CNBC
- Europe's economy enters technical recession as households struggle with cost-of-living crisis euronews
- German bosses are depressed The Economist
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