Eurozone recession is now more likely than not – Bloomberg survey

The latest survey of economists by Bloomberg showed that the Eurozone could enter a technical recession amid the deepening energy crisis and record-high inflation.

Key findings

"The probability of output shrinking for two straight quarters has risen to 60% from 45% in a previous survey, and up from 20% before Russia invaded Ukraine."

"Inflation is now expected to average almost 8% in 2022 -- about four times the European Central Bank’s goal -- and 4% next year. Respondents still see it slowing to the 2% target in 2024, however."

"They see the ECB raising interest rates by a half-point in September -- as it did in its initial move in July." 

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