Connect with us

Hi, what are you looking for?


The German, Italian and Slovakian economies may fall into recession

The German, Italian and Slovakian economies may fall into recession

On Monday, Moody’s Investors Service announced that the gross domestic product of Germany, Italy and Slovakia will also fall below the pre-pandemic level in 2023.

Image: Bloomberg

The company also projected a negative outlook for the entire eurozone, according to which the region is at moderate risk of recession this year.

“Support measures at the national and EU levels and mitigating disruptions to global supply chains can offset some of the negative impacts to a certain extent,” Heiko Peters, Moody’s vice president and a senior analyst for the company, added Monday.

However, according to our projections, 60 percent of sovereign states in the eurozone do so goes into stagnation.

Germany according to the preliminary estimate on Friday Although it avoided the decline in the fourth quarter that analysts had previously predicted, the bleak outlook cited by Moody’s suggests this surprisingly resilient performance will not last.

Moody’s added that if stagflation starts, that is, if a country or the entire region falls into a technical recession while the level of inflation continues to rise, this could have “severe” consequences for the credit rating of some southern European countries.

See also  Euro at its highest level in eight years - Stock Exchange Forum
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Top News

In a harrowing incident that has shaken the community of Lewiston, Maine, a series of shootings on Wednesday evening resulted in a tragic loss...

Top News

President Joe Biden’s abrupt departure from a speech on the U.S. economy at the White House on Monday sent a ripple of speculation and...


Chinese scientists have discovered a little-known type of ore containing a rare earth metal highly sought after for its superconducting properties. The ore, called...


A dangerous application appeared in the Apple App Store disguised as a known program. reported the Based on TechCrunch article. Dangerous app in...

Copyright © 2024 Campus Lately.