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Europe’s Economy Expanded in Spring, and Inflation Has Eased



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Economic Growth: The euro area expands, but the gains are uneven.Gross domestic product in the eurozone grew 0.3 percent in the second quarter of 2023, a stronger result than predicted by economists. But the recovery, after zero growth in the first quarter, was not consistent across countries.Germany, Europe’s largest economy, stagnated in the second quarter and prospects for a recovery throughout the year remain low, as many of the country’s heavy industries rely on energy and have suffered from the price increases triggered by the war in Ukraine.“The main cause for concern is the industrial sector, where despite dwindling supply chain problems, production continues to tread water and we see a downward trend on the intake of new orders,” said Fritzi Köhler-Geib …

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