Eurozone enters recession after GDP contracts for second consecutive quarter


Content Team
Image Credit: news9live

After defying predictions of recession multiple times, the eurozone economy finally slipped into a technical recession in the first quarter of 2023. The gross domestic product (GDP) of the region fell by 0.1% in the first three months of the year. This is the second consecutive quarter where the eurozone's GDP contracted. Two consecutive GDP contractions are considered a technical recession.