Economic activity in the eurozone contracted in July for the first time since the corona lockdowns at the beginning of 2021. This is according to new figures from market researcher S&P Global. The contraction is caused by high inflation in the euro area, which is putting pressure on the purchasing power of consumers. Companies are also struggling with high purchasing costs and staff shortages. The risk of a recession in the eurozone has therefore increased.
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Eurozone economic activity unexpectedly shrinks in July
