Although there are still no forecasts of a total slowdown, there is optimism regarding the economic situation in the Euro Zone.
Source: Pexels
Author: Redaction
The Eurozone remains under severe economic pressure, with a recession set to occur in 2023 after a difficult year. However, this scenario is beginning to change course and a climate of optimism is emerging, based on economic forecasts and data from politicians and economists.
There was mitigation of the impact of the war in Ukraine, which, despite triggering an energy crisis, a warmer winter allowed some resilience from industries. The fall in energy prices was another benefit, in addition to the replacement of gas by other energy sources that allowed Europeans to reduce their consumption of gas and electricity.
What helps the Euro Zone, mainly, has been the decrease in gas prices, since they reduce the pressure on consumers, who will have less to pay in their monthly bills, as well as allowing demand to recover.
Overall, the global economy may experience a sharp slowdown during 2023, even if it comes with high levels of inflation, something that has already been anticipated by the United Nations.
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