Categories: Economic News

Today’s stock market: European recession, Putin-Kim, BOE mandate, Chinese economy

Good morning. The Eurozone is on the brink of recession, Russia is getting cozy with North Korea, a possible review of the BOE’s mandate and China’s gloomy outlook. This is what people are talking about.

The risk of a recession in the euro zone is the highest since November 2020 as energy shortages threaten to push already record inflation higher, according to economists polled by Bloomberg. The likelihood that output will decline for two straight quarters has risen to 60% from 45% in a previous survey, and to 20% before Russia invaded Ukraine. The rising cost of living is hurting businesses and households in the euro area, and supply bottlenecks are being exacerbated by severe droughts, which have caused water levels to drop on the rivers of Europe this summer.


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