Europe narrowly avoids a recession
CNN
The eurozone economy narrowly avoided ending 2023 in a recession, according to EU data released Tuesday.
Europe’s economy narrowly avoided ending 2023 in a recession, according to official EU data released Tuesday. Gross domestic product across the 20 countries that use the euro stagnated in the October-to-December quarter compared with the previous three months, according to an initial estimate published by Eurostat. In the July-to-September quarter, GDP dipped 0.1%. The wider EU economy, including all 27 member countries, also dodged a recession. A recession is typically defined as two consecutive quarters of economic contraction. This is a developing story and will be updated.
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