EU warns of 'difficult months' as eurozone faces recession
2 years, 1 month ago

EU warns of 'difficult months' as eurozone faces recession

Hindustan Times  

The EU warned Friday the eurozone was set to fall into recession this winter as Brussels hiked inflation forecasts for 2022 and 2023 on the back of high energy prices. The EU's executive arm said increased uncertainty and prices "are expected to tip" the eurozone and most of the bloc's member states into recession in the last quarter of this year. But the EU's economy commissioner Paolo Gentiloni said "the impact of soaring energy prices, rampant inflation, are now taking their toll." It said eurozone inflation was expected to stand at 8.5 percent for 2022, a point higher than earlier forecast, and 6.1 percent in 2023, over two points higher than predicted previously. He warned however that inflation could end up two points higher in 2023 if the EU "fails to prepare" adequately in advance for next winter by filling up its gas stores.

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History of this topic

Inflation rose to 2.3% in Europe. That won’t stop the central bank from cutting interest rates
3 weeks, 4 days ago

Inflation rose to 2.3% in Europe. That won’t stop the central bank from cutting interest rates

Associated Press  

FRANKFURT, Germany — Inflation in the 20 countries that use the euro currency rose in November — but that likely won’t stop the European Central Bank from cutting interest rates as the prospect of new U.S. tariffs from the incoming Trump administration adds to the gloom over weak growth. The European Union’s harmonized index of consumer prices stood up 2.3% …

U.S. protectionism could undermine modest growth forecast for eurozone, says EU Commission
1 month, 1 week ago

U.S. protectionism could undermine modest growth forecast for eurozone, says EU Commission

Associated Press  

FRANKFURT, Germany — Europe’s economy has left stagnation behind but is headed for only modest growth in coming months as consumers regain some of the purchasing power they lost to inflation, the European Union’s executive commission said Friday. AP AUDIO: U.S. protectionism could undermine modest growth forecast for eurozone, says EU Commission AP correspondent Charles de Ledesma reports Europe and …

Rate cut expected as eurozone inflation falls
3 months, 3 weeks ago

Rate cut expected as eurozone inflation falls

China Daily  

EU flags flutter in front of European Central Bank headquarters in Frankfurt, Germany on July 18. Bert Colijn, an economist at ING, told the Financial Times newspaper the fact that Eurostat, the European Union's official statistics agency, declared the eurozone's inflation rate to be within a whisker of the ECB's target of 2 percent means rate cuts will be likely …

Inflation ticks up in Europe, complicating the European Central Bank’s next move
4 months, 3 weeks ago

Inflation ticks up in Europe, complicating the European Central Bank’s next move

Associated Press  

FRANKFURT, Germany — Inflation in the 20 countries that use the euro ticked up to 2.6% in July, stubbornly above the European Central Bank’s target and complicating the ECB’s next decision on whether to cut interest rates and boost growth as the economy struggles to stage a convincing recovery after a long stretch of stagnation. Services inflation, a figure closely …

Inflation ticks up in Europe, complicating the European Central Bank's next move
4 months, 3 weeks ago

Inflation ticks up in Europe, complicating the European Central Bank's next move

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. Read our privacy policy Inflation in the 20 countries …

Europe's central bank hits pause on rate cuts as inflation takes its sweet time to come down to 2%
5 months ago

Europe's central bank hits pause on rate cuts as inflation takes its sweet time to come down to 2%

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. Read our privacy policy Home buyers and businesses waiting …

Inflation is down in Europe. But the European Central Bank is in no hurry to make more rate cuts
5 months, 3 weeks ago

Inflation is down in Europe. But the European Central Bank is in no hurry to make more rate cuts

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. Read our privacy policy Inflation in the 20-nation eurozone …

Inflation is down in Europe. But the European Central Bank is in no hurry to make more rate cuts
5 months, 3 weeks ago

Inflation is down in Europe. But the European Central Bank is in no hurry to make more rate cuts

Associated Press  

FRANKFURT, Germany — Inflation in the 20-nation eurozone crept lower to 2.5% in June, but remained stuck above the level favored by the European Central Bank, which is in no hurry to add more rate cuts after a first tentative reduction in its benchmark rate. The ECB’s caution in making sure inflation is under control comes as the U.S. Federal …

Inflation ticked up in Europe in May. That likely won’t stop a central bank rate cut next week
6 months, 3 weeks ago

Inflation ticked up in Europe in May. That likely won’t stop a central bank rate cut next week

Associated Press  

FRANKFURT, Germany — Inflation ticked up to an annual 2.6% in Europe in May, according to official figures on Friday. It’s unlikely to stop the European Central Bank from making a first interest rate cut next week — and moving ahead of the U.S. Federal Reserve in lowering borrowing costs for businesses and consumers. Still, the higher inflation number makes …

Europe’s economy has stalled. But an interest rate cut will likely have to wait for summer
9 months, 2 weeks ago

Europe’s economy has stalled. But an interest rate cut will likely have to wait for summer

Associated Press  

FRANKFURT, Germany — Inflation in Europe is way down from its painful double-digit peak, and the economy has stalled. But the European Central Bank left its key interest rate at a record high Thursday, and its leader suggested a much-anticipated cut to borrowing costs would likely wait until June. The decision comes as central banks around the world, including the …

Inflation in Europe edges down again. But will Houthi attacks on ships spoil the relief?
10 months, 3 weeks ago

Inflation in Europe edges down again. But will Houthi attacks on ships spoil the relief?

Associated Press  

FRANKFURT, Germany — Inflation in Europe edged lower in January to 2.8%, keeping alive speculation about quicker interest rate cuts that would lower borrowing costs for businesses and consumers — and help boost the stagnating economy. “This uncertainty could ultimately prompt central banks to delay rate cuts to give themselves more information on the inflationary impact.” Economic models suggested the …

Europe’s economic pain drags on with zero growth at the end of last year
10 months, 3 weeks ago

Europe’s economic pain drags on with zero growth at the end of last year

Associated Press  

FRANKFURT, Germany — Europe’s economy failed to expand at the end of 2023, dragging out the stagnation for more than a year amid higher energy prices, costlier credit and a downturn in former powerhouse Germany. “The big picture is that eurozone GDP has been flat since the third quarter of 2022 when gas prices surged and the ECB started raising …

Inflation in Europe falls to 2.4% as interest rates pack a punch. But the economy has stalled
1 year ago

Inflation in Europe falls to 2.4% as interest rates pack a punch. But the economy has stalled

Associated Press  

LONDON — Europeans again saw some relief as inflation dropped more than expected to 2.4% in November, the lowest in over two years, as plummeting energy costs have eased a cost-of-living crisis but higher interest rates squeeze the economy’s ability to grow. The new figure is close to the European Central Bank’s inflation target of 2% following a rapid series …

Euro zone inflation falls to lowest in 2 years as economy slows
1 year, 2 months ago

Euro zone inflation falls to lowest in 2 years as economy slows

The Hindu  

Inflation in the euro zone fell to its lowest level in two years in September, suggesting the European Central Bank's steady diet of interest rate hikes was succeeding in curbing runaway prices albeit at a growing cost for economic growth. Consumer prices in the 20 countries that share the euro rose by 4.3% in September, the slowest pace since October …

Inflation drops to a two-year low in Europe. It offers hope, but higher oil prices loom
1 year, 2 months ago

Inflation drops to a two-year low in Europe. It offers hope, but higher oil prices loom

Associated Press  

FRANKFURT, Germany — Inflation that has plagued Europeans declined sharply in September to the lowest level in two years, strengthening hopes that consumers will get relief from costlier groceries, vacations and haircuts — and that the European Central Bank won’t have to further restrict the economy by raising interest rates from already-record highs. But recently higher oil prices are casting …

German economy sinking in recession in 2023, predicts European Commission
1 year, 3 months ago

German economy sinking in recession in 2023, predicts European Commission

Live Mint  

Bearing the brunt of high inflation driven by factors like Russia-Ukraine crisis, German economy is expected to contract in 2023, predicted European Commission on Monday. The recent cut in forecast has come at a time when Euro's biggest economy is facing high inflation and the spill over effect of Russia-Ukraine war. Euro zone expected to grow slower, says EC The …

Dutch economic growth projections slashed in revised European forecast
1 year, 3 months ago

Dutch economic growth projections slashed in revised European forecast

NL Times  

The European Commission has significantly lowered expectations for economic growth in the Netherlands this year. In its summer forecast, the executive body of the European Union now says it expects growth of just 0.5 percent for the Netherlands in 2023. Because many wages have now been significantly increased and inflation is gradually decreasing, consumption will not decline further in the …

ECB's Lagarde says interest rates to stay high as long as needed to defeat inflation
1 year, 3 months ago

ECB's Lagarde says interest rates to stay high as long as needed to defeat inflation

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 Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

European Central Bank hikes interest rates to combat inflation and leaves door open to more
1 year, 4 months ago

European Central Bank hikes interest rates to combat inflation and leaves door open to more

Associated Press  

FRANKFURT, Germany — The European Central Bank raised interest rates for the ninth straight time Thursday in its yearlong campaign to stamp out painfully high inflation and kept the door open to further hikes despite increasing fears of recession. ECB President Christine Lagarde had all but promised the quarter-percentage point increase and said the bank’s next moves would be determined …

European Central Bank chief signals more rate hikes ahead with inflation still ‘strong’
1 year, 6 months ago

European Central Bank chief signals more rate hikes ahead with inflation still ‘strong’

Associated Press  

FRANKFURT, Germany — European Central Bank head Christine Lagarde said Monday that price pressures are “strong” and made clear that the bank will raise interest rates high enough to bring down inflation and keep them there “for as long as necessary.” Lagarde’s remarks reinforced her earlier statements indicating the ECB was not done raising rates even after inflation fell by …

Europe’s economy barely grows as inflation pinches consumers
1 year, 7 months ago

Europe’s economy barely grows as inflation pinches consumers

Associated Press  

FRANKFURT, Germany — The European economy scraped out meager growth in the first three months of the year, barely gaining momentum as stubborn inflation raises the price of groceries and erodes people’s willingness to spend paychecks that are failing to keep pace. Friday’s less-than-stellar increase of 0.1% from the previous quarter follows disappointing growth estimates from the U.S., which kept …

EU foresees economy improving, but inflation still painful
1 year, 10 months ago

EU foresees economy improving, but inflation still painful

Associated Press  

FRANKFURT, Germany — The European Union’s executive branch has raised its economic growth forecast for the year, saying Europe will narrowly avoid a recession and has already passed its inflation peak as natural gas prices fall from astronomical highs. Prices for natural gas — used to heat homes, fuel industry and generate electricity — reached record levels last summer, rising …

Inflation and recession: Can the world defeat both in 2023?
1 year, 10 months ago

Inflation and recession: Can the world defeat both in 2023?

Al Jazeera  

No, says conventional wisdom. The IMF, World Bank and many other experts have pointed to one key factor pushing the economy towards a recession: sharp interest rate hikes by central banks in recent months to tame soaring inflation. Amid the COVID-19 pandemic that crushed the global economy because of lockdowns and supply chain bottlenecks, central banks around the world cut …

Inflation drops sharply in Europe but some prices are still rising faster
1 year, 11 months ago

Inflation drops sharply in Europe but some prices are still rising faster

CNN  

London CNN — Inflation in Europe continued to decline in December as energy prices rose at a slower pace. Prices across the 19 countries that used the euro in 2022 increased at an annual rate of 9.2% in December, the European Union’s statistical office said Friday. While energy inflation fell to 25.7% in December, compared to 34.9% in November, the …

Inflation in Europe eases but is still in painful double digits
2 years ago

Inflation in Europe eases but is still in painful double digits

LA Times  

Inflation in Europe has eased for the first time in more than a year as energy prices drift down from painful highs, but the double-digit rate still hovers near a record and has robbed consumers of spending power and led economists to predict a recession. Roaring inflation is being fed by high energy prices, which have been caused by Russia …

Europe’s inflation likely hasn’t peaked, ECB’s Lagarde says
2 years ago

Europe’s inflation likely hasn’t peaked, ECB’s Lagarde says

Associated Press  

BRUSSELS — The head of the European Central Bank said Monday she does not believe inflation has peaked after reaching the highest levels on record. ECB President Christine Lagarde also told European lawmakers that the bank isn’t through raising interest rates to combat those price spikes. That means the central bank will “continue to tame inflation with all the tools …

EU expects recession to hit this year as inflation hangs on
2 years, 1 month ago

EU expects recession to hit this year as inflation hangs on

Associated Press  

FRANKFURT, Germany — The European Union’s executive commission slashed its forecast for economic growth next year, saying the 19 countries that use the euro currency will slide into recession over the winter as peak inflation hangs on for longer than expected and high fuel and heating costs erode consumer purchasing power. The commission says high energy prices, a rising cost …

EU warns of 'difficult months' as eurozone faces recession
2 years, 1 month ago

EU warns of 'difficult months' as eurozone faces recession

New Indian Express  

BRUSSELS: The EU warned on Friday the eurozone was set to fall into recession this winter as Brussels hiked inflation forecasts for 2022 and 2023 on the back of high energy prices. The EU's executive arm said increased uncertainty and prices "are expected to tip" the eurozone and most of the bloc's member states into recession in the last quarter …

German economy to shrink in 2023, government advisers expect
2 years, 1 month ago

German economy to shrink in 2023, government advisers expect

Associated Press  

BERLIN — The German government’s panel of independent economic advisers forecast Wednesday that Europe’s biggest economy will shrink by 0.2% next year. But a weak winter, with gross domestic product declining in the last months of the year and in the first three months of next year, is still widely expected. The advisers’ forecast of 1.7% growth this year and …

Europe's largest economy Germany will fall into recession in 2023: OCED
2 years, 2 months ago

Europe's largest economy Germany will fall into recession in 2023: OCED

Firstpost  

Germany is facing soaring inflation, particularly in energy prices, after Russia cut gas supplies through the Nord Stream pipeline as tensions mount over the Ukraine war New Delhi: Europe’s largest economy Germany will fall into recession in 2023, the Organisation for Economic Co-operation and Development said on Monday. “Pessimism regarding the coming months has grown decidedly.” Energy prices spike as …

Europe heading for recession as cost-of-living crisis deepens
2 years, 3 months ago

Europe heading for recession as cost-of-living crisis deepens

The Hindu  

The eurozone is almost certainly entering a recession, with surveys on Monday showing a deepening cost-of-living crisis and a gloomy outlook that is keeping consumers wary of spending. "The PMI surveys signal that the euro area is entering recession earlier than we previously thought, led by its largest economy Germany, and we now see the euro area 'enjoying' a longer, …

Inflation hits record 8.9% in euro area, but economy grows
54 years, 11 months ago

Inflation hits record 8.9% in euro area, but economy grows

Associated Press  

LONDON — Inflation in the European countries using the euro currency shot up to another record in July, pushed by higher energy prices fueled by Russia’s war in Ukraine, but the economy managed better-than-expected, if meager, growth in the second quarter. Analysts say the economic growth tied to a rebound in tourism could be the last glimmer of upbeat news, …

Eurozone faces recession ‘with or without Russian gas’
2 years, 5 months ago

Eurozone faces recession ‘with or without Russian gas’

The Telegraph  

The eurozone will be plunged into recession regardless of whether or not Putin cuts gas supplies to the continent, an economist has warned. None of the current risk factors for the eurozone economy is likely to disappear soon.” ING cut its 2022 growth forecast for the region to 2.6pc and predicted a recession “at the turn of the year”. Mr …

Euro hits 20-year low against US dollar over recession fears
2 years, 5 months ago

Euro hits 20-year low against US dollar over recession fears

Al Jazeera  

Growing fears of a recession in the eurozone push the euro to its lowest level against the US dollar since 2002. The European Union’s single currency has sunk to its lowest level against the US dollar since 2002 as data pointed to a growing recession risk in the eurozone. Just before 09:00 GMT, the shared eurozone unit tumbled to $1.0306, …

Eurozone inflation hits record 8.1% amid rising energy costs
2 years, 6 months ago

Eurozone inflation hits record 8.1% amid rising energy costs

Associated Press  

LONDON — Eurozone inflation hit a record 8.1% in May amid surging energy and food costs fueled in part by Russia’s war in Ukraine. Energy prices jumped 39.2%, highlighting how the war and the accompanying global energy crunch are making life more expensive for the eurozone’s 343 million people. “Energy inflation is likely to remain higher for longer than previously …

Growth slows at end of 2021 in 19 countries that use euro
2 years, 10 months ago

Growth slows at end of 2021 in 19 countries that use euro

Associated Press  

FRANKFURT, Germany — The European economy slowed noticeably at the end of last year as surging COVID-19 cases driven by the omicron variant piled on top of supply shortages and rising energy prices that dented consumer purchasing power. In the 19 countries that use the euro, growth in the last three months of 2021 came in at 0.3%, the European …

Inflation in 19 nations using euro hits record high of 4.9%
3 years ago

Inflation in 19 nations using euro hits record high of 4.9%

Associated Press  

LONDON — Consumer prices across the 19 countries that use the euro currency are rising at a record rate as a result of a huge spike in energy costs this year, official figures showed Tuesday. Eurostat, the European Union’s statistics agency, said the eurozone’s annual inflation rate hit 4.9% in November, the highest since recordkeeping began in 1997 and up …

Europe’s economic recovery faces hit from high energy costs
3 years, 1 month ago

Europe’s economic recovery faces hit from high energy costs

Associated Press  

FRANKFURT, Germany — The European Commission raised its growth forecast for the year for the 19 countries using the euro, saying Thursday that the economy was bouncing back from the worst of the coronavirus pandemic as people went back to work in consumer-facing jobs. However, the EU’s executive branch lowered its outlook for next year, warning that painfully high energy …

EU Q2 GDP grew by 13% compared to same period last year
3 years, 4 months ago

EU Q2 GDP grew by 13% compared to same period last year

CNN  

London CNN Business — European economies posted stronger than expected growth in the second quarter, with consumer and business confidence booming as Covid-19 restrictions were eased. GDP across the European Union rose by 13.2% compared with the same period last year, and by 1.9% compared with the previous quarter, according to a preliminary estimate published Friday by the EU statistics …

Brussels revises Dutch economy recovery forecast, 3.3% growth expected
3 years, 5 months ago

Brussels revises Dutch economy recovery forecast, 3.3% growth expected

NL Times  

The European Commission has forecasted economic growth of 3.3% for the Netherlands during the next two years, De Telegraaf reported. “The European economy is making a strong comeback and all the right pieces are falling into place,” said EU Commission Vice President, Valdis Dombrovskis. The EU economy will grow at a rate of 4.8 percent on average this year, up …

EU cuts 2021 economic outlook as virus spreads
4 years, 1 month ago

EU cuts 2021 economic outlook as virus spreads

The Independent  

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