Inflation & Prices
Euro Area to Suffer First Recession Since Pandemic, Survey Shows
- Economists see GDP shrinking 0.1% in final quarter of 2023
- Inflation forecasts cut for most of 2024 but 2% goal elusive
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The euro zone will succumb to its first recession since the pandemic, with the economy shrinking for a second straight quarter in the final months of the year, according to a Bloomberg poll of analysts.
The 0.1% contraction now predicted between September and December compares with the previous survey’s projection for output to remain unchanged. A mild recovery is seen at the beginning of 2024.