Slow consumer spending and sticky inflation have led to two consecutive quarters of economic contraction in the European Union. That means that the eurozone fell into a recession over the winter months, and growth this year is likely to be weak.
Economists say that the recession is mild and the broader European economy has managed to avoid a serious downturn — but they’re also focused on the spillover effects onto the United States and the global economy.
Read More : Examining the Link: How Would a European Recession Affect the US?