May 25, 2023 – Written by John Cameron
Leave a comment STORY LINK Pound Euro Exchange Rate News: GBP/EUR Climbed as Germany Slipped into a Recession
Euro (EUR) Undermined by German Recession
Meanwhile, the Euro (EUR) slipped on Thursday in the wake of a downwardly revised German GDP growth data. Against a previously expected stagnation in Europe’s largest economy, German GDP shrank by 0.3% in the first quarter.
A second consecutive quarter of a shrinking economy marks a technical recession. With cracks appearing across the Eurozone, EUR investors are concerned with the state of the economy. Carsten Brzeski, Global Head of Macro at ING, commented on the latest data:
‘A drop…
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