The euro-area economy avoided a winter recession after all, with revised data showing it stagnated at the start of this year instead of shrinking as previously thought.
Output in the 20-nation currency bloc was flat in the first quarter, according to updated figures on Eurostat’s website on Thursday. That’s up from a prior reading of -0.1%, which — combined with a decline of the same magnitude at the end of 2022 — had suggested the first six-month contraction since the Covid-19 pandemic.
Read More : Euro Area Dodges Recession as 1st Quarter Stagnates