Eurozone and UK set to fall into recession this winter.

JUST IN – Eurozone and UK set to fall into recession this winter.

— Disclose.tv (@disclosetv) November 11, 2022

via BBC:

The UK economy shrank between July and September as the country heads into what is expected to be the longest recession on record.

The economy contracted by 0.2% during the three months as soaring prices hit businesses and households.

A country is in recession when its economy shrinks for two three-month periods in a row. The UK is expected to be in one by the end of the year.

The Bank of England has forecast a “very challenging” two-year recession.

Brussels warns of EU recession as German output slides. Eurozone faces a grim winter, according to the European Commission.https://t.co/zUk6IzB5Mc

— Disclose.tv (@disclosetv) November 11, 2022

via Bloomberg:

The euro zone faces a grim winter as a recession bites just as double-digit inflation grips the region and war rages nearby, according to the European Commission.

European Union officials in Brussels on Friday slashed their forecast for growth next year, predicting barely any expansion, and raised all their projections for consumer prices. They reckon the economy is now shrinking and will keep contracting during the first quarter.