The 20-nation eurozone economy fell into a technical recession in the first three months of 2023, according to data from the European statistics agency Eurostat, published June 8.
Eurozone gross domestic product (GDP), seasonally adjusted, dropped by 0.1 percent in the first quarter compared with the fourth quarter of 2022, according to revised data.
In the fourth quarter of 2022, GDP had also decreased by 0.1 percent in the euro-area, the figures showed.
Flash estimates published by Eurostat in April had suggested growth of 0.1 percent in the eurozone and by 0.3 percent in the European Union (EU) in the first quarter, compared with the previous quarter, narrowly avoiding a recession….