FOR TRANSLATION ECONOM
Eurozone in recessie na zes maanden daling
June 9, 2023 - Eurozone GDP declined 0.1% in the first three months of the year after falling by the same amount in the final quarter of 2022 – technically defined as a recession.
Gross domestic product (GDP) for the 20-country eurozone fell by 0.1% in Q1 2023, after also dropping by 0.1% in Q4 2022 – two successive quarters of contraction being described as a technical recession.
However, Eurostat says Q1 2023 eurozone GDP was actually up 1.0% on 12 months ago, but lower than May’s forecast 1.3% growth.
Economists polled by Reuters, believe quarterly growth will modestly bounce back by 0.2% in the remaining three quarters of 2023.