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Bloomberg: Recession risks in the eurozone have reached their highest level since 2020


Washington, SANA- Bloomberg Agency reported that the risk of the euro zone economy falling into an economic recession has reached its highest level


Bloomberg reported that the risk of the eurozone economy falling into a recession has reached its highest level since November 2020.

The agency quoted economists as saying that the state of energy shortage threatens to boost inflation already at a record, noting that the probability of reducing production in the eurozone countries for two consecutive quarters rose from 45 percent to 60 percent since the last survey conducted by the agency and by 20 percent since the start of hostilities in Ukraine.

Experts pointed out that the German economy, which is the largest in the European bloc and hardest hit by the decline in Russian energy supplies, will begin to stagnate early this quarter.

Estimates put the inflation rate in the eurozone at about 8 percent in 2022, which is about four times the European Central Bank's forecast, while experts believe inflation will slow to 2 percent in 2024.

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Source: sena

All business articles on 2022-08-15

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