United Kingdom It's official: the Eurozone is in a recession

[The Gays From LA]

Woo-hoo! More austerity for Europe!

The eurozone economy entered into a technical recession during the first three months of the year according to figures released by the EU's statistic agency, Eurostat.

The data released on Thursday showed that there had been contraction of 0.1% for a second consecutive quarter.
...
Eurostat revised down an earlier forecast that had predicted slight growth, after Germany said last month it had fallen into recession.

Inflation and higher interest rates have lowered demand in the countries that use the euro as their currency.

The latest figures also highlight the impact of the loss of Russian natural gas which caused energy prices to soar.

The worse-than-expected figures casts doubt on more optimistic forecasts for the remainder of 2023.

https://www.reuters.com/markets/eur...o-recession-after-german-revision-2023-06-08/

https://www.theguardian.com/busines...recession-as-cost-of-living-crisis-takes-toll
https://edition.cnn.com/2023/06/08/economy/eurozone-recession/index.html
https://www.bloomberg.com/news/arti...s-now-here-and-inflation-shock-will-linger-on
https://www.dw.com/en/eurozone-dips-into-recession