Posted 12/11/2023, 5:00:00 AM
Eurozone Headed for Recession in Q4 as Inflation Persists, Economic Outlook Dims
- Euro zone expected to enter recession in Q4 2022, contracting for 2nd straight quarter
- Germany, Europe's largest economy, will see 0.2% economic contraction in Q4
- Slowdown attributed to tighter monetary policy, weak manufacturing, budget crisis
- Inflation projections lowered near-term but raised longer-term, not expected to hit 2% target
- Contrasts with European Commission's more optimistic November forecasts of growth resuming