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EU economy projected to avoid recession

February 13, 2023

Via: Sky News
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The bloc will now avoid a technical recession, the EU said in its winter economic forecast, which is when the economy goes through a six-month period of economic contraction.

Recession had been forecast in the EU’s last economic forecast in November, but instead the annual growth rate for 2022 is estimated to be 3.5%.

Growth will continue throughout this year, the latest forecast says. The economy across the 27 countries will grow 0.8% in 2023, the union now expects – up from the 0.3% predicted in the autumn economic forecast.

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