War in Ukraine could lead to recession, government forecaster says
2 years, 9 months ago

War in Ukraine could lead to recession, government forecaster says

Dutch News  

The CPB macro-economic forecasting agency has updated its spring economic forecasts to reflect the war in Ukraine and now says the Netherlands could end up in a short recession. The new scenario assumes that the war will lead to long-term high energy and commodity prices and lower spending in various European economies. Dutch employers’ organisation VNO-NCW has also warned against underestimating the economic danger presented by the war in Ukraine, and said earlier this month it could spark a 1970s-style recession. The employers’ body points out that every energy crisis in history has ‘led to a recession’ and says that energy prices will remain high for years.

War Ukraine Cpb  scenario  war  high  ukraine  uncertainty  recessionthe  recession  cpb  lead  forecaster  energy  spending  prices

History of this topic

Europe’s economic outlook brightens a little after avoiding recession. But inflation still squeezes
1 year, 7 months ago

Europe’s economic outlook brightens a little after avoiding recession. But inflation still squeezes

Associated Press  

FRANKFURT, Germany — The European Union’s executive body raised its economic growth forecast, saying Europe had dodged a winter recession that was feared amid an energy crisis but warning that stubbornly high inflation is likely to keep hurting the economy by sapping people’s ability to spend. The outlook for the 20 countries using the euro currency improved to growth of …

Germany will not fall into recession, insists Scholz
1 year, 11 months ago

Germany will not fall into recession, insists Scholz

The Telegraph  

Germany will avoid a recession this year, Chancellor Olaf Scholz has insisted, despite the energy crisis which has ravaged its economy. Mr Scholz said that new liquefied natural gas terminals on the Baltic and North Sea coasts would help cushion the blow from the energy crisis on Germany’s crucial manufacturing sector. “I’m absolutely convinced that this will not happen – …

Dutch economy will contract in Q4, EU Commission says
2 years, 1 month ago

Dutch economy will contract in Q4, EU Commission says

Dutch News  

Most European countries will go into recession by the end of this year and this situation will continue until spring 2023, the European Commission said in its latest economic forecasts on Friday. The commission said the Dutch economy is set to stagnate in the third quarter and to contract modestly in the fourth. Read the forecast ‘The shocks unleashed by …

Dutch economy will contract in Q4, EU Commission says
2 years, 1 month ago

Dutch economy will contract in Q4, EU Commission says

Dutch News  

Most European countries will go into recession by the end of this year and this situation will continue until spring 2023, the European Commission said in its latest economic forecasts on Friday. The commission said the Dutch economy is set to stagnate in the third quarter and to contract modestly in the fourth. Read the forecast ‘The shocks unleashed by …

Is Ukraine war speeding Europe’s transition to renewable energy?
2 years, 1 month ago

Is Ukraine war speeding Europe’s transition to renewable energy?

Al Jazeera  

Shortages are leading to a policy pivot towards a cleaner energy future, but some see a lack of cash to sustain investment. Renewable energy production in Europe reached record levels following Russia’s invasion of Ukraine, leading some energy analysts to predict that Europe is poised to surge forward in creating clean energy. “This can be a historic turning point towards …

German government: Economy to shrink in 2023 as war bites
2 years, 2 months ago

German government: Economy to shrink in 2023 as war bites

Associated Press  

BERLIN — The German government on Wednesday slashed its growth forecast for this year and predicted that Europe’s biggest economy would shrink in 2023 as it deals with the fallout from Russia’s war in Ukraine, including Moscow cutting off natural gas supplies. Habeck said that despite the grim growth projections, employment would likely remain “robust.” Russian imports once accounted for …

OECD: War in Ukraine to drag on global economy into 2023
2 years, 2 months ago

OECD: War in Ukraine to drag on global economy into 2023

Associated Press  

PARIS — Russia’s war in Ukraine and the lingering effects of the COVID-19 pandemic are dragging down global economic growth more than expected and driving up inflation that will stay high into next year, the Organization for Economic Cooperation and Development said Monday in a darkening outlook. The inflation and energy supply shock led the OECD to project annual economic …

Germany: Recession clouds gather in Europe's largest economy
2 years, 2 months ago

Germany: Recession clouds gather in Europe's largest economy

Firstpost  

Germany’s key future indicator, the IFO survey of business confidence, pointed down for the fourth month in a row as high inflation fed by astronomical natural gas prices undermines consumer pricing power and imposes heavy costs on businesses Frankfurt: Europe’s largest economy is sending recession signals. Germany’s key future indicator, the IFO survey of business confidence, pointed down for the …

Russia’s war to keep hitting EU economy, push up inflation
2 years, 5 months ago

Russia’s war to keep hitting EU economy, push up inflation

Associated Press  

BRUSSELS — Russia’s war in Ukraine is expected to wreak havoc with the European Union’s economic recovery for the foreseeable future with lower annual growth and record-high inflation, the bloc’s economic forecast showed Thursday. “Russia’s war against Ukraine continues to cast a long shadow over Europe and our economy,” EU Vice President Valdis Dombrovskis said. Further reductions in gas supply …

Russia-Ukraine war threatens prolonged effect on global economy
2 years, 6 months ago

Russia-Ukraine war threatens prolonged effect on global economy

Al Jazeera  

The OECD has slashed its outlook for global growth and doubled inflation projection, warning fallout from war could worsen. The world economy will pay a “hefty price” for the war in Ukraine encompassing weaker growth, stronger inflation and potentially long-lasting damage to supply chains, the OECD said. While the OECD said it’s warranted for all monetary authorities to pare back …

Possibility of ‘large’ economic shocks in future, Yellen warns
2 years, 7 months ago

Possibility of ‘large’ economic shocks in future, Yellen warns

Al Jazeera  

US Treasury Secretary Janet Yellen said Thursday the global pandemic and Russia’s invasion of Ukraine highlight the possibility of big economic shocks in the future, adding that downturns are “likely to continue to challenge the economy”. With “large negative shocks” inevitable, she said, policymakers have learned from the Great Recession that it’s imperative to exit economic downturns “as quickly as …

War in Ukraine could lead to recession, government forecaster says
2 years, 9 months ago

War in Ukraine could lead to recession, government forecaster says

Dutch News  

The CPB macro-economic forecasting agency has updated its spring economic forecasts to reflect the war in Ukraine and now says the Netherlands could end up in a short recession. The new scenario assumes that the war will lead to long-term high energy and commodity prices and lower spending in various European economies. Dutch employers’ organisation VNO-NCW has also warned against …

Ukraine war could cause recession in Netherlands: Planning Office
2 years, 9 months ago

Ukraine war could cause recession in Netherlands: Planning Office

NL Times  

The Russian war in Ukraine could mean a recession for the Dutch economy, the central planning office CPB said in new calculations on Wednesday. If energy- and raw material prices remain high and world trade is affected by the war and sanctions against Russia, the Dutch economy could shrink for two quarters in a row this year, the CPB said, …

Economic dangers from Russia's invasion ripple across globe
2 years, 9 months ago

Economic dangers from Russia's invasion ripple across globe

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. “We know there are consequences that we cannot predict.’’ …

What war in Ukraine could mean for you on the home front
2 years, 9 months ago

What war in Ukraine could mean for you on the home front

The Telegraph  

Oil prices have already been pushed to a seven-year high of $97 a barrel, as investors fear that Russia will tighten its supply on the commodity. Mortgage rate rises The Bank of England has already put interest rates up twice in three months in a bid to rein in these building inflationary pressures, but economists warn Threadneedle Street’s rate-setters could …

Discover Related