Europe’s Economy Barely Avoids Recession
Europe’s economy skirted a recession at the start of the year, underlining the continent’s surprising resilience despite Russia’s war on Ukraine, signs of banking strains, and repeated interest-rate increases to combat stubbornly high inflation.
The bloc’s return to modest growth coincides with a first-quarter pickup in China and a slowdown in the U.S. Taken together, these numbers suggest the global economy likely bounced back from a trough late last year, although headwinds from a restrictive monetary policy could put a lid on the revival.
Europe’s economy skirted a recession at the start of the year, underlining the continent’s surprising resilience despite Russia’s war on Ukraine, signs of banking strains, and repeated interest-rate increases to combat stubbornly high inflation.
The bloc’s return to modest growth coincides with a first-quarter pickup in China and a slowdown in the U.S. Taken together, these numbers suggest the global economy likely bounced back from a trough late last year, although headwinds from a restrictive monetary policy could put a lid on the revival.
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