Euro-Area Economy Slips Into Double-Dip Recession: GDP Update
Bloomberg 6 hrs ago
(Bloomberg)
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The euro-area economy slid into a double-dip recession at the start of the year as strict coronavirus lockdowns across the region kept many businesses shuttered and consumers wary to spend.
Reports from some of its biggest members show how far behind the European Union is in recovering from the pandemic amid a slow vaccine rollout. Output in the 19-nation euro area was down 0.6% in the first quarter and declined at nearly three times that pace in Germany.