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☆ European markets set for gains ahead of euro zone inflation data
▼ + stars: | 2024-03-01 | by ( Elliot Smith | ) www.cnbc.com time to read: +1 min

A TV presenter gets ready for the daily reporting from the floor of the German share price index DAX at the stock exchange in Frankfurt, Germany, November 15, 2023. LONDON — European markets are set to open higher on Friday to start the new trading month after a winning February, with euro zone inflation data due mid-morning. The European stock index notched an all-time high last month, powered by the 11 GRANOLAS large-cap stocks that made up half of the gains across the entire Stoxx 600. Focus will turn Friday to February's flash euro zone inflation reading, expected at 10 a.m. London time, with economists in a Reuters poll predicting the consumer price index rose 2.5% year on year, down from 2.8% in January. German consumer price inflation on Thursday came in line with forecasts at 2.7% year on year.

Persons: DAX Organizations: LONDON, GSK, Roche, ASML, Nestle, Novartis, Novo Nordisk, L'Oreal, LVMH, AstraZeneca, SAP, Sanofi, Focus, European Central Bank, ECB, Fed Locations: Frankfurt, Germany, London

☆ Europe is having its worst earnings season since the onset of Covid — with little hope of a quick turnaround
▼ + stars: | 2024-03-01 | by ( Silvia Amaro | ) www.cnbc.com time to read: +4 min

As of Feb. 29 with 313 companies having reported, 50.2% posted a beat, according to a CNBC analysis of FactSet data. This was the smallest percentage of beats — thus the worst earnings season — since the first quarter of 2020 when the pandemic first hit European firms. Share buyback bonanzaSharon Bell, a senior European strategist at Goldman Sachs, told CNBC that she had noticed a new trend for European corporates during this earnings season. "What you have seen is a lot of companies announcing buybacks," she told CNBC's "Squawk Box Europe" Tuesday. "It is absolutely huge, you've never really seen this before in 20, 30 years, European companies pay dividends, they don't do buybacks," she said.

Persons: —, Edward Stanford, Philippe Ferreira, Kepler Cheuvreux, Sharon Bell, Goldman Sachs, CNBC's, you've, Bell, Ferreira Organizations: CNBC, HSBC, L'Oreal, European Central Bank, Shell, Deutsche Bank, Novo Nordisk, UBS Locations: Triomphe, France, Europe, China, Ukraine, European

☆ Euro zone inflation cools less than expected to 2.6% in February
▼ + stars: | 2024-03-01 | by ( Jenni Reid | ) www.cnbc.com time to read: 1 min

A salesman preparing a bag of sweets for a customer in the Sicilian confectionery shop Mazzone on February 02, 2024 in Catania, Italy. Inflation in the 20-nation euro zone eased to 2.6% in February, flash figures showed on Friday. The headline print previously came in at 2.8% in January, with further easing expected after price rises cooled in Germany, France and Spain. Investors are hunting for clues on when the European Central Bank will start to bring down interest rates, with market pricing pointing to a June cut. Yet many ECB officials still stress that they need spring wage negotiations to conclude before they have a clearer picture of domestic inflationary pressures.

Organizations: Reuters, European Central Bank Locations: Catania, Italy, Germany, France, Spain

☆ The whole world is reaching all-time highs. Here’s what’s driving it
▼ + stars: | 2024-02-27 | by ( Lisa Kailai Han | ) www.cnbc.com time to read: +8 min

On the surface, it may seem simple — global stocks are rallying, so there must be one universal driver, right? When this happens, the yen should strengthen and improve shareholder value in Japanese stocks, Arone said. "All of that gives you the ingredients you need to push stocks higher — not only U.S. stocks, but global stocks — in the next 12 months or so," he said. "I think that international stocks — Japan, Europe — have more room to go. Similar to Kelly, Kleintop recommended a more broad-based approach to playing this global rally.

Persons: It's, Charles Schwab's, Jeffrey Kleintop, they've, David Kelly, Michael Arone, Kelly, Arone, —, Kleintop, Fred Imbert Organizations: U.S, Dow Jones, Nasdaq, Nikkei, CNBC, Nvidia, Asset Management, Federal Reserve, European Central Bank and Bank of England, Bank of Japan, Tokyo Stock Exchange, State, — Locations: United States, U.S, Europe, Japan, Korea, China, Asia, America, Eastern Europe, — Japan

☆ Americans have racked up a trillion dollars in credit card debt. That’s actually okay
▼ + stars: | 2024-02-25 | by ( Bryan Mena | ) edition.cnn.com time to read: +8 min

Washington, DC CNN —Americans racked up a record amount of credit card debt in 2023, soaring past a trillion dollars. “Consumers still have a lot of money left over to be able to spend, so the credit card data is often misinterpreted,” Russell Price, chief economist at Ameriprise Financial, told CNN. According to a LendingTree analysis of more than 350,000 credit reports, the average unpaid credit card balance was $6,864 in the fourth quarter. Overall, US household debt (including credit card balances) rose to a new high of $17.5 trillion in the fourth quarter, up 1.2% from the prior three-month period. So, while there certainly isn’t a shortage of economic hurdles bedeviling people’s budget — and credit card debt has surged — the big picture indicates that, so far, Americans (and their economy) remain healthy.

Persons: ” Russell Price, Price, haven’t, market’s, ” Gregory Daco, ” Lara Rhame, Laura, Jensen Huang, Christine Lagarde, Virgin, Michael Barr, Raphael Bostic, Susan Collins, John Williams, Papa, Austan Goolsbee, Loretta Mester, fuboTV, Christopher Waller, Mary Daly, Adriana Kugler Organizations: CNN Business, Bell, DC CNN, Workers, New York Fed, Consumers, Ameriprise, CNN, Federal Reserve Bank of New, . New York Fed, Employers, Soaring, FS Investments, Nvidia, Huawei, AMD, Microsoft, Broadcom, US Commerce Department, Central Bank, eBay, Smucker, Urban Outfitters, Global, Board, TJX, Monster Beverage, Baidu, HP, Paramount Global, Anheuser, Busch Inbev, Dell Technologies, Papa John’s, US Labor Department, National Association of Realtors, P, China’s National Bureau, Statistics, Pearson, P Global, Institute for Supply Management, University of Michigan Locations: Washington, Federal Reserve Bank of New York, ., EY, Santa Clara, Singapore, Shenzhen, China, Beijing, CAVA

☆ Yen sinks as currency traders keep short and carry on
▼ + stars: | 2024-02-23 | by ( ) www.cnbc.com time to read: +3 min

The yen is the worst-performing G10 currency this year, with a 6.4% slide on the dollar. For the week the yen is down 0.6% on the euro, touching its weakest for three months overnight at 163.45 per euro . Yen moves against the dollar were more modest due to the risk its slide could prompt intervention in markets from Japan, with officials reminding traders they stand ready in recent days. The dollar gained 0.1% to trade at 150.41 yen this week. Investors can earn interest, or carry, by borrowing yen around 0% and buying income-bearing assets in other currencies.

Persons: Moh Siong Sim, Sterling, Christine Lagarde, Christopher Waller Organizations: New, Deutsche, Britain, of Singapore, U.S, European Central Bank Locations: Japan, New Zealand, Friday's Asia, U.S, Europe

☆ There is uneven recovery across different sectors and member states of euro zone economy: economist
▼ + stars: | 2024-02-22 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThere is uneven recovery across different sectors and member states of euro zone economy: economistChris Williamson, chief business economist at S&P Global Market Intelligence, discusses the latest euro zone flash PMI data and explains how it will impact the European Central Bank's next interest rate decision.

Persons: Chris Williamson Organizations: P Global Market Intelligence, Central Bank's

☆ European Central Bank posts first annual loss in two decades
▼ + stars: | 2024-02-22 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Rain falls over the finance district and the European Central Bank (ECB) in Frankfurt, Germany. The European Central Bank on Thursday reported its first annual loss since 2004, following hefty payouts due to higher interest rates. The central bank said it will carry forward the loss on its balance sheet to offset against future profits. The central bank began quantitative tightening in March 2023. There is no institution in the economy which can cope with a temporary loss better than the central bank," he told CNBC by email.

Persons: Germany's Bundesbank, Holger Schmieding Organizations: European Central Bank, ECB, Swiss National Bank, CNBC Locations: Frankfurt, Germany, Ukraine

☆ Dealmaking is showing signs of life, but it comes with some downsides
▼ + stars: | 2024-02-22 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, we're looking at why M&A could be staging a comeback and which bankers made the most of 2023 . The big storyDealmaker's delighttatomm/iStock, Tyler Le/BIThree monster deals announced in less than a week has Wall Street wondering: Is M&A back? But after a dreadful 2022 and 2023, dealmaking is showing signs of life, Business Insider's Theron Mohamed writes. Capital One, Truist, and Walmart announced acquisitions totaling $53 billion this week, leaving bankers hopeful the good times (and fees) are back. Deals represent an exit opportunity for companies, giving their investors (some of whom are employees) a chance to cash out.

Persons: Tyler Le, Theron Mohamed, Biden, Alex Morrell, Reed Alexander, Alyssa Powell, Emily Stewart, Wall, it's, M, Getty, Jenny Chang, Rodriguez, Jensen Huang, Goldman Sachs, Carlos Delgado, Associated Press Rivian, Rivian, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Business, Federal Reserve, Walmart, Activision Blizzard, ExxonMobil, Cisco, Acquisitions, Activision, Wall Street, Big Tech, Nvidia, ING, Microsoft, Associated Press, BI, Google, Walgreens, Sunshine State, CVS, Intuit, Nestle, Square Locations: Europe, Florida, VillageMD, New York, London

☆ An under-the-radar recession indicator in the bond market is sounding the alarm for a hard landing
▼ + stars: | 2024-02-21 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

An under-the-radar recession indicator in the bond market is raising alarm that the economy could be heading for a hard landing, according to ING Economics. Strategists at the analytics firm pointed to a tight correlation between US Treasury yields and Bund yields in Europe, with both yields slipping in recent weeks as markets reprice their interest rate expectations over the short-run. That was the case in the Silicon Valley Bank crisis in early 2023, when a sell-off fueled by the collapse of SVB led Treasury yields and Bund yields to tumble in tandem. "The correlation between UST and Bund yields is significantly elevated, which usually points to a hard-landing narrative," strategists said in a note on Wednesday. New York Fed economists, meanwhile, are pricing in a 61% chance the economy could tip into recession by January of next year.

Persons: SVB Organizations: ING Economics, Treasury, Business, European Central Bank, ING, Bank, UST, Bund, ECB, New York Fed Locations: Europe, Silicon

☆ Commercial real estate is in big trouble — and the problems may have major financial fallout
▼ + stars: | 2024-02-16 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +7 min

Read previewThe tremors rattling US commercial real estate are spreading to other countries and sectors, and threaten to escalate into a financial earthquake as refinancing deadlines loom. There are growing signs that commercial real estate is in serious trouble. AdvertisementProspective losses, refinancing woes, international contagion, and panic selling combine to create a bleak outlook for the commercial property sector. The catalyst for both the banking and commercial real estate drama is deceptively dry: rising interest rates. AdvertisementMoreover, "Undercover Billionaire" star and real estate tycoon Grant Cardone has hailed the ongoing correction as a rare chance for everyday people to buy "trophy real estate" from institutional owners.

Persons: —, aren't, Barry Sternlicht, Pfandbriefbank, Warren Buffett, Ian Jacobs, Jacobs, Grant Cardone Organizations: Service, Business, Starwood Capital's, Bloomberg, European Central Bank, New York Community Bancorp, Investors, Silicon Valley Bank, Federal Reserve, Wall Street, Berkshire Hathaway, Ares Management Locations: Europe, Silicon, San Francisco, New York City, Manhattan, Los Angeles

☆ Think falling prices would help? They could destroy an economy. Just ask China
▼ + stars: | 2024-02-15 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +2 min

China, however, is having a different problem: Prices are falling at their fastest rate in 15 years. No, that wasn’t a typo, falling prices are a problem when they’re widespread across an economy, like in China, which is experiencing what’s known as deflation. At first glance, falling prices may sound good. Like the US Federal Reserve, most central banks target a 2% annual rate of inflation, not zero inflation whatsoever. “In a deflationary environment monetary policy may not be able to sufficiently stimulate the economy by using its interest rate instrument.

Persons: — Organizations: New, New York CNN, US Federal Reserve, European Central Bank Locations: New York, China

☆ Finland's New President Sees No Limit to NATO Ties, Ukraine Support
▼ + stars: | 2024-02-11 | by ( Feb. | At P.M. | ) www.usnews.com time to read: +3 min

He said he agreed with his predecessor Sauli Niinisto "who said that we need a more European NATO". He would be "a Western president in many ways" and lean towards the United States, Britain and Nordic neighbours when it came to setting the tone of foreign policy, he told Reuters. "My starting point is, paraphrasing (European Central Bank President) Mario Draghi, whatever it takes," Stubb said. During his election campaign Stubb said Finland should be an active NATO member and seek to have some NATO troops stationed on its territory. Stubb is a keen amateur athlete and triathlon champion - though he has said he will cut down on sport once he becomes Finland's 13th president.

Persons: Anne Kauranen, Alexander Stubb, Sauli Niinisto, Mario Draghi, Stubb, Johanna Vuorelma, Vuorelma, Markku Jokisipila, Suzanne Innes, Andrew Heavens Organizations: Anne Kauranen HELSINKI, NATO, Reuters, European Investment Bank, European University Institute, Nordic, Ukraine, Central Bank, Helsinki, University of Helsinki, Finland's Centre, Parliamentary Studies, National Coalition Party Locations: Ukraine, Russia, Finland, Europe, Florence, United States, Britain, British

☆ Yen near 10-week low, dollar buoyant as traders adjust rate bets
▼ + stars: | 2024-02-09 | by ( ) www.cnbc.com time to read: +3 min

The yen wallowed near a 10-week low on Friday, while the dollar ground towards a fourth weekly advance as traders dialed back bets on how quickly the Bank of Japan, or BOJ, will raise interest rates and how soon the Federal Reserve will cut them. The yen wallowed near a 10-week low on Friday, while the dollar ground towards a fourth weekly advance as traders dialed back bets on how quickly the Bank of Japan, or BOJ, will raise interest rates and how soon the Federal Reserve will cut them. The yen was little changed at 149.315 per dollar in early Asian trading, after dipping to 149.48 late in the previous session for the first time since Nov. 27. Both currencies have been relatively resilient with officials from the European Central Bank and Bank of England pushing back against market wagers on early rate reductions. New Zealand's dollar gained 0.34% to $0.6117, supported by bets for a delayed start to Reserve Bank rate cuts - or even the potential for further hikes - after data this week showed a stronger-than-forecast jobs market.

Persons: Shinichi Uchida, Shunichi Suzuki, Jerome Powell, FOMC, Richard Franulovich, Sharon Zollner, bitcoin Organizations: Bank of Japan, Federal Reserve, BOJ, Japanese Finance, Traders, European Central Bank and Bank of England, Reserve, ANZ Locations: Tokyo

☆ The dollar is back. It’s not all good news
▼ + stars: | 2024-02-09 | by ( Krystal Hur | ) edition.cnn.com time to read: +6 min

New York CNN —The greenback is strengthening again after a bumpy 2023, as Wall Street accepts that interest rate cuts are coming later than previously expected. The US Dollar Index, which tracks the dollar against the British pound, euro, Swiss franc, Japanese yen, Canadian dollar and Swedish krona, is up 2.8% for the year as of Friday morning. “All of a sudden the interest rate differential kicks in — if that is slower than the Fed or faster,” said Krosby. Higher interest rates tend to garner more international capital to flow into a country, raising demand for the currency and thus its value. Still, Todd Jones, chief investment officer at Gratus Capital, says he expects the dollar to trend lower eventually as the Fed gets closer to cutting rates.

Persons: Jerome Powell, Christine Lagarde, Quincy Krosby, ”, Neel Kashkari, Todd Jones, Jones, Anna Cooban, Richard Meade, Janet Yellen, Alicia Wallace, Yellen, ” Yellen Organizations: CNN Business, Bell, New York CNN, Swiss, Canadian, Federal Reserve, European Central Bank, LPL, Treasury, Minneapolis, Gratus, Fed, Hamas, Lloyds, CNN, Banking Committee Locations: New York, Swedish, Iran, Suez, Asia, Europe

PRAGUE (AP) — The Czech Republic’s central bank cut its key interest rate for the second straight time Thursday in an effort to help the struggling economy. The cut by a half-percentage point brought the interest rate down to 6.25%. Photos You Should See View All 15 ImagesThe Czech bank's decision comes as major central banks around the world are discussing when to start bringing down borrowing costs. The European Central Bank left its benchmark rate unchanged at a record-high 4% on Jan. 25, saying it was premature to discuss cuts. Last week, the U.S. Federal Reserve kept its benchmark interest rate steady, indicating that it needed to see more evidence that inflation is truly in check before making cuts.

Organizations: Czech Statistics Office, European Central Bank, U.S . Federal Reserve, Bank of England Locations: PRAGUE, Czech

☆ Dollar poised for weekly decline; US jobs data up next
▼ + stars: | 2024-02-02 | by ( ) www.cnbc.com time to read: +4 min

The dollar index was last at 103.02 and on track for its first weekly decline for the year. The New Zealand dollar rose 0.07% to $0.6149 and was on track for a weekly rise of nearly 1%, its best performance in over a month. It was poised for a weekly gain of nearly 1.3%, its best week in over a month. That highlighted a growing view within the board that conditions were falling in place to soon pull short-term interest rates out of negative territory, which would be Japan's first interest rate hike since 2007. Data on Thursday showed euro zone inflation eased as expected last month but underlying price pressures fell less than forecast, likely boosting the European Central Bank's argument that rate cuts should not be rushed.

Persons: Jerome Powell, Ray Attrill, Raf Choudhury, BoE, Thierry Wizman Organizations: Federal Reserve, New Zealand, National Australia Bank, Friday's, Analysts, Bank of Japan's, Bank of England, Monetary, European Locations: Abrdn, U.S

☆ Eurozone Inflation Dips at Start of Year
▼ + stars: | 2024-02-01 | by ( Melissa Eddy | More About Melissa Eddy | ) www.nytimes.com time to read: +1 min

Why It Matters: The timing of interest rate cuts depends on dataInvestors are watching for signs that the European Central Bank will lower interest rates, which policymakers last week held at a record high of 4 percent. The numbers released on Thursday could raise expectations that rates may come down sooner rather than later. Core inflation, the rate of inflation that excludes the volatile prices of food and energy, continued its downward trend, cooling to 3.3 percent in January from 3.4 percent in December. That figure is crucial to the E.C.B., as it reflects underlying trends in prices across the eurozone. will remain cautious, he said, “and will not contemplate any rate cut before June.”

Persons: Christine Lagarde, “, Peter Vanden Houte, ” Organizations: European Central Bank, ING Locations: midyear, Germany, Europe’s

☆ Russia’s frozen assets are generating billions. The EU is getting ready to send them to Ukraine
▼ + stars: | 2024-02-01 | by ( Hanna Ziady | ) edition.cnn.com time to read: +4 min

London CNN —Russian assets frozen in European accounts are generating billions of dollars in interest payments that could be diverted to help repair Ukraine’s war-torn economy — and the European Union just took a step closer to doing that. After Russia’s full-scale invasion of Ukraine in February 2022, Western countries froze nearly half of Moscow’s foreign reserves — some €300 billion ($327 billion). Around €200 billion ($218 billion) sits in the European Union — mostly at Euroclear, a financial institution that keeps assets safe for banks, exchanges and investors. The EU has been at pains to contrast the illegality of Russia’s invasion with its own strict adherence to the rule of law. Lawyers are working on the text of the agreement before returning it to EU member states for final approval.

Persons: Euroclear, —, ” — James Frater Organizations: London CNN, European Union, EU, immobilised Central Bank of Russia, ”, Group, World Bank, European, European Central Bank, CNN Locations: Ukraine, ” Belgium, Euroclear, Russia, EU

Energy prices fell 6.3%, contributing to the drop in inflation in the 20 European Union countries that use the euro currency. Inflation has fallen steadily as the ECB rapidly raised interest rates, the typical antidote to out-of-control price increases. Inflation decreased to 3.1% in Germany, Europe’s biggest economy, down from 3.8% in December and the lowest since June 2021. The decline in inflation has unleashed speculation that the European Central Bank could start cutting interest rates as early as April. And European growth could use a boost.

Persons: Christoph Swonke, ” Organizations: European Union, Energy, Union, European Central Bank, ECB, DZ Bank, Bank of England, U.S . Federal Reserve Locations: FRANKFURT, Germany, Europe’s, France, Europe, Iranian, Yemen, Africa, Suez, Israel, U.S

☆ Euro zone inflation eases as expected, but core figures disappoint
▼ + stars: | 2024-02-01 | by ( Jenni Reid | ) www.cnbc.com time to read: +2 min

Euro zone headline inflation eased slightly in January, flash figures published by the European Union's statistics agency showed on Thursday, while core figures declined less than expected. Inflation stood at 2.9% in December, up from 2.4% in November, largely due to the wind-down of energy price support measures. By sector, services inflation — an important gauge for policymakers due to its link to domestic wage pressures — held steady at 4%. Preliminary figures out earlier this week showed inflation in Germany easing slightly more than had been forecast, reaching 3.1%. "However, core inflation only inched lower, with services especially coming in quite hot.

Persons: Janis, Price, Christine Lagarde, Kamil Kovar, Kovar Organizations: Reuters, Inflation, European Central Bank, ECB, Moody's Locations: Cais, Lisbon, Portugal, Germany

Late last year, Wall Street investors had bet that a rate cut in March was a near-certainty. Collectively, the policymakers likely feel little urgency to start cutting rates, a point that Chair Jerome Powell may stress in a news conference Wednesday. The unemployment rate, at 3.7%, isn't far above a half-century low. Yet some cracks have begun to appear in the job market and, if they worsen, could spur the Fed to cut rates more quickly. Though the European Central Bank could cut rates as soon as April, many economists think that might not happen until June.

Persons: Joe, Biden, Jerome Powell, they’re, ”, Subadra Rajappa Organizations: WASHINGTON, Federal Reserve, Republicans, Congress, Wall Street, Consumers, General Motors, United Auto Workers, Conference Board, European Central Bank Locations: U.S, United States

☆ Dollar keeps tight ranges ahead of Fed, jobs data
▼ + stars: | 2024-01-30 | by ( ) www.cnbc.com time to read: +3 min

A Chinese 100 yuan banknote, a 1 U.S. dollar bill and a 50 euro banknote are lying on a table. The dollar was steady in the Asian morning, with market participants moving cautiously ahead of the two-day FOMC meeting that kicks off on Tuesday. "I suspect that the FOMC meeting will not be as dovish as current market pricing suggests," said Matt Simpson, senior market analyst at City Index. The data will give another indication of whether the world's largest economy remains strong after the Fed's aggressive hiking campaign. Sterling was last trading at $1.2716, holding firm ahead of the Bank of England's monetary policy meeting this week.

Persons: Jerome Powell, Matt Simpson, hasn't, Sterling, Wei Liang Chang Organizations: U.S . Department of Labor, U.S ., Central Bank, Bank, DBS, Fed Locations: U.S

☆ Europe should brace for ‘harsh decisions’ if Trump is re-elected, says ECB’s Lagarde
▼ + stars: | 2024-01-30 | by ( Hanna Ziady | ) edition.cnn.com time to read: +3 min

London CNN —Europe should prepare for possible threats to its economy — including new US tariffs on its exports — if Donald Trump returns to the White House, according to European Central Bank President Christine Lagarde. “Let us prepare for potential tariffs, for potential harsh decisions that would be unexpected. The transatlantic relationship was strained during Trump’s first term, not least by a tit-for-tat trade spat between Washington and Brussels. That dispute saw the United States impose tariffs on EU steel and aluminum, to which the EU responded with tariffs on $3 billion worth of US goods, including whiskey, motorcycles and denim. The United States is the EU’s biggest source of foreign direct investment.

Persons: Donald Trump, Christine Lagarde, Mr Trump, ”, CNN’s Richard Quest, ” Lagarde, Trump, Trump’s, Lagarde, “ Organizations: London CNN, White, European Central Bank, United, EU, Republican, Ukraine, Russia, Trade, Trump, French, France, NATO Locations: Europe, United States, Washington, Brussels, Paris

☆ Europe narrowly avoids a recession
▼ + stars: | 2024-01-30 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Europe’s economy avoided ending 2023 in a recession by the narrowest of margins, official data showed Tuesday. In the July-to-September quarter, GDP dipped 0.1%. Europe’s economy has struggled to regain momentum following the pandemic, hamstrung by high inflation and rapid interest rate hikes to combat it. The French economy, Europe’s second-largest, stagnated in the fourth quarter but grew 0.7% over the whole of 2023. He expects the eurozone economy to “flatline” in the first half of 2024 “as the effects of past monetary tightening continue to feed through and fiscal policy becomes more restrictive.”

Persons: —, Russia’s, ‘, Christoph Weil, ”, ” “, Jack Allen, Reynolds, “ Organizations: London CNN, Gross, Eurostat, Union, EU, ’, Commerzbank, European Central Bank, Capital Economics, ECB Locations: Ukraine, Europe, Italy, Spain

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