The 2022 GDP growth forecast is cut from 2.4% to 2.3% and the 2023 forecast is cut from 0.7% to -0.2%. Of note, Credit Suisse sees negative GDP growth for the euro area through Q3 2022 to Q1 2023 - implying a recession. The firm adds that the largest economic contractions will be seen in Germany and Italy.
This article was written by Justin Low at www.forexlive.com.
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