Euro Zone To Avoid Recession, Growth To Accelerate In Q3 – ECB Survey
The euro zone will avoid a recession this year and growth will accelerate noticeably after bottoming out in the second quarter, a key European Central Bank survey showed on Monday. The 19-country currency bloc has been hit by fallout from Russia’s invasion of Ukraine, which has sapped confidence, investment and households’ purchasing power via sharply higher fuel and food prices. The economy is now expected to grow by 0.1% in the second quarter, accelerating to 0.4% in both the third and fourth quarters, the ECB’s Survey of Monetary Analysts showed.
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