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Gross domestic product in the eurozone grew 0.3 percent in the second quarter of 2023, a stronger result than predicted by economists. Italy, Austria and Latvia all saw output fall in the second quarter. Inflation across the eurozone dipped to an annual rate of 5.3 percent in July, down from 5.5 percent the previous month. “On the whole, the eurozone economy recorded another underwhelming quarter,” said Ricardo Amaro, a senior economist at Oxford Economics. He noted that “the second half of the year is likely to be as underwhelming, if not more than the first half, with the eurozone economy risking stagnation or worse.”
Persons: , Fritzi, KfW, Christine Lagarde, What’s, Lagarde, , Ricardo Amaro Organizations: Gross, European Central Bank, Oxford Economics Locations: Germany, Europe’s, Ukraine, Germany’s, Italy, Austria, Latvia, Spain, France, Europe, Russia
Christine Lagarde, President of the European Central Bank (ECB), announced a new rate decision Thursday following new inflation data. "On the other hand, growing wage pressure and falling but still high inflation expectations call for caution." Recent inflation data shows that price dynamics are abating but consumer price rises are still far too high. At 6.1% year-on-year for the headline rate, and 5.3% for the core rate, inflation remains too high for comfort in Frankfurt with wage pressures still building. The bank's benchmark rate is currently at 3.25%.
Persons: Christine Lagarde, Fritzi, Mark Wall Organizations: European Central Bank, ECB, FRANKFURT, Deutsche Bank Locations: Frankfurt
An Oklahoma teacher who helped students access banned books faced death threats. Summer Boismier left her teaching job and now works at the Brooklyn Public Library. The threats still rattle her, but she's more worried that teens and kids are losing access to books. Boismier resigned from her teaching job and moved 1,500 miles away from her home to Brooklyn, New York, where she began working for the Brooklyn Public Library. That alone shows how much of a demand there is for legislators to stop censoring books, Boismier said.
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailECB must hold course to reduce inflation, KFW chief economist saysFritzi Köhler Geib, chief economist at KFW, discusses the latest ECB rate hike and the projections for the euro area growth in 2023.
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