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European economy slows sharply as recession risks rise

Europe’s economy slowed sharply in June as soaring energy and food prices weakened demand for other goods and services, business surveys showed, raising the risk of some countries sliding into recession. recession over the next few months.

The new data underscores how bleak the outlook for Europe’s economy has become as Russia’s war in Ukraine drags on, with high inflation spreading across the board, the prospect of rising interest rates. interest and a possible power shortage this winter, not to mention the lingering supply chain. bottlenecks in all sectors.