Eurozone Economy Seen Contracting as ECB Raises Borrowing Costs

The euro-zone economy likely contracted in July, business surveys showed, increasing the likelihood it will slide into recession just as the European Central Bank announced its first rate hike in more than a decade.

Business surveys released on Friday showed clearer signs of a slowdown in the global economy as rising prices and higher interest rates weigh on consumer demand. Weakening incoming orders also point to a further slowdown in the coming months.

https://www.wsj.com/articles/eurozone-economy-seen-contracting-as-ecb-raises-borrowing-costs-11658485175 Eurozone Economy Seen Contracting as ECB Raises Borrowing Costs

Alley Einstein

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