Europe’s economy likely contracted at the end of 2022 but showed signs of resilience, suggesting the downturn could be milder than feared just a few months ago, business surveys showed
Europe’s economy likely contracted at the end of 2022 but showed signs of resilience, suggesting the downturn could be milder than feared just a few months ago, business surveys released Friday showed.
Positive factors include progress made by European governments in securing non-Russian supplies of natural gas, new government subsidies to help businesses and households absorb higher prices, and robust employment. Globally, signs thatare also pointing upward for global growth. in November for the biggest decline this year. In the eurozone, retail sales tumbled in October as the cost of heating homes jumped with the arrival of colder weather.
The European Central Bank on Thursday acknowledged for the first time that the eurozone economy is likely to contract both this quarter and next. But ECB President Christine Lagarde said any recession would be “relatively short-lived and shallow.” “Policy makers, at least in the U.S. and Europe, now appear resigned to weaker economic growth in 2023,” said Christian Nolting, chief investment officer at Deutsche Bank’s private bank. “Any recessions are likely to be short-lived, but they will not be painless.”
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Stock Market Today: Dow Declines 600 Points; Retail Sales Data Adds to Recession FearsThe Dow fell more than 300 points at the open, extending Wednesday's losses after the Fed signaled rates may have to move higher than previously thought
Read more »
How Amazon put Ukraine's 'government in a box' — and saved its economy from RussiaAmazon is helping Ukraine transfer critical government, business and property data into the company's data cloud.
Read more »
EUR/USD Price Analysis: Upside momentum loss favors volatility contraction aheadThe EUR/USD pair has sensed selling pressure around the immediate resistance at 1.0660 in the Tokyo session after a firmer recovery move from the cruc
Read more »
Swiss National Bank Slows Tightening Cycle With a 50 Basis Points Interest-Rate RiseBy Xavier Fontdegloria Switzerland's National Bank on Thursday increased interest rates for a third consecutive time in as many meetings, but slowed the pace...
Read more »
Swiss central bank hikes interest rates by 50 basis points to counter 'further spread of inflation'The Swiss National Bank has increased its benchmark interest rate for the third time this year, taking it to 1%.
Read more »
The Biggest Talking Points From the Second Instalment of ‘Harry & Meghan’From what really went down at the “Sandringham summit” to who the Sussex children take after, the biggest talking points from volume two of the Netflix docuseries, ‘Harry & Meghan.’
Read more »