GDP shrank 0.1% in first quarter of 2023 and final three months of 2022 after revisions to earlier estimates
Business live – latest updates
The eurozone slipped into recession in the first three months of the year, after official figures were revised to show the bloc’s economy shrank as the rising cost of living weighed on consumer spending.
Figures from Eurostat, the EU’s statistical agency, showed gross domestic product (GDP) fell by 0.1% in the first quarter of 2023 and the final three months of 2022 after revisions to earlier estimates. A technical recession is generally defined as two consecutive quarters of negative growth.
More Stories
EU should spare carmakers from ‘punitive’ emissions fines, says Scholz
Will Japan’s close ties with US survive the caprice and quirks of Donald Trump?
Albania bans TikTok for a year after fatal stabbing of teenager last month