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.
About Author
More Stories
Xi Jinping tells Alibaba’s Jack Ma and Chinese tech chiefs to ‘show their talent’
Hackers steal $1.5bn from crypto exchange in ‘biggest digital heist ever’
iPhone designer still asks: ‘I wonder what Steve Jobs would do?’ – despite being told not to