• About Us
  • Contact Us
  • Write For Us
SMYE HOLLAND NEWS
  • Home
  • Business
  • Health
  • Lifestyle
  • Technology
  • Sports
  • Travel
  • News
  • Write For Us
No Result
View All Result
  • Home
  • Business
  • Health
  • Lifestyle
  • Technology
  • Sports
  • Travel
  • News
  • Write For Us
No Result
View All Result
Smye Holland Associates
No Result
View All Result
Home Technology

Dreaded Double Recession Is Confirmed For Europe

admin by admin
May 9, 2021
in Technology
0
Dreaded Double Recession Is Confirmed For Europe
0
SHARES
32
VIEWS
Share on FacebookShare on Twitter

The euro zone economy returned to recession after suffering a 0.6% contraction in GDP between January and March, following the 0.7% drop in the last quarter of 2020, as a result of the impact of the measures to stop the third wave of the pandemic in many countries.

The deployment of vaccines should facilitate the takeoff of the economy for the second quarter, together with the arrival of aid from Brussels. The great blow has been given by the collapse of the German economy.

The saying goes that when the US sneezes the world gets constipated. Well, the same thing happens in the European economy with Germany, the leading power in the euro zone. According to Eurostat, the German economy contracted by 1.7% quarter-on-quarter at the beginning of the year .

In the last quarter of 2020, the economy dodged another fall by surprise, growing by 0.5%. But the new restrictions in the country and its surroundings have returned the country to negative growth rates, dragging the entire area.

Germany was the second country in the euro zone to register a greater drop in GDP in the quarter, only behind Portugal (-3.3%). And it means practically tripling the fall of the entire euro zone. Euro GDP fell 0.6%, confirming the dreaded double recession.

The perfect storm has passed through Germany, in addition to the pandemic. A devastating climate for some sectors, such as construction; Problems in global supply chains, exacerbated by the Suez Canal crisis, terminal for an exporting economy like the German one and the end of the VAT cut have sunk German GDP.

The positive surprise has been France. The second economy in the euro zone was one of the few that has remained standing in the first quarter, along with Belgium and Finland. The explanation is that there has been a rebound in consumer spending to coincide with less demanding restrictions in the period, although now it has returned to take a hard line.

In the case of Spain, GDP registered a contraction of 0.5% in the first quarter, after the stagnation observed in the fourth quarter of 2020. Compared with the first three months of last year, the Spanish economy fell by 4, 3%.

The evolution of the European economy contrasts with the recovery in the US. The American GDP grows at 1.6% quarterly and its economy is launched. The European recovery is mired in delays in vaccination and the arrival of European aid.

But still there are economists optimistic for a radical turnaround. For Bert Colijn, economist at ING, the European economy has shown some “resilience” and adds that “although late, it is ready for recovery, the image of a mediocre eurozone economy will change rapidly”.

All hopes are in vaccines to be able to safely open economies so that tourism can start up and the service sector function normally. According to PMI data, one of the first leading indicators, they already indicated that in March, coinciding with the easing of restrictions in some countries, the GDP of the euro zone had returned to growth, or at least the activity was in phase. expansion.

For the summer, it is also expected that the aid of the reconstruction fund that will give a serious respite to the worst hit countries. But Brussels still has to approve the plans of all the countries and that they ratify the agreements to finance the 750,000 million for Next Generation funds.

admin

admin

Related Posts

What is the Future of Mobile Gaming?
Technology

What is the Future of Mobile Gaming?

May 23, 2022
Factors To Consider Before Developing An IOS App
Technology

Factors To Consider Before Developing An IOS App

May 16, 2022
How To Make Online Videos For YouTube Channels
Technology

How To Make Online Videos For YouTube Channels

May 11, 2022
Next Post
Thirteen Ibex Securities Turn The Covid Page On The Stock Market

Thirteen Ibex Securities Turn The Covid Page On The Stock Market

Iberdrola Offers To Mobilize 30000 Million With European Funds

Iberdrola Offers To Mobilize 30000 Million With European Funds

Brussels Improves Spain Economy Forecasts In 2021 And 2022

Brussels Improves Spain Economy Forecasts In 2021 And 2022

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

  • 52.2M Fans
  • 111 Followers
  • 51k Followers
  • 156k Subscribers

Recommended

Experts Predict More Cases And Deaths Than Last Year From Flu

Experts Predict More Cases And Deaths Than Last Year From Flu

7 months ago
sdfsdf

European Union Is Increasingly Moving Away From The Silicon Valley Model

2 years ago
Is Your E-Commerce Business’ Growth Attracting Fraud?

Are ESGs the Future of Gen-Z Investing?

9 months ago
Pediatricians Recommend Flu Vaccination For Children Under 5 Years Old

Pediatricians Recommend Flu Vaccination For Children Under 5 Years Old

8 months ago

Instagram

    Please install/update and activate JNews Instagram plugin.

Categories

  • Business
  • Education
  • Finance
  • Food & Drinks
  • Health
  • Home Improvement
  • Lifestyle
  • National
  • News
  • Opinion
  • Politics
  • Sports
  • Technology
  • Travel
  • World

Topics

Alex Syrov Attorney Marc Randazza become leaner content writing Corrupt Attorney Marc Randazza Don Juravin Dwight Schar Dwight Schar Victims exercise Florida luggage stores get fit Gojek Clone google reviews healthy eating HMO Property Designs insurance agent jewellery jewlery luggage stores Marc Randazza multi-service business Neil Debenham on-line videos overseas labour Paul Simonson PissedConsumer Randall Greene Randazza Legal Group real turquoise Spencer Schar Squarespace youtube
No Result
View All Result

Highlights

The Importance Of Hiring Crowd Control Services- Points To Note

What Should You Know About Material Takeoffs?

5 POWERFUL TIPS TO TAKE CARE OF YOUR MENTAL HEALTH

5 Tips on Incorporating A Keto Inspired Diet

Renovating Your Home in 2022: Things to Know

The Best Way to See the Monaco Grand Prix

Trending

When sourcing product or labour overseas, what criteria should be considered?
Business

When sourcing product or labour overseas, what criteria should be considered?

by Richard Seargent
May 23, 2022
0

It`s clean to oversimplify the variations among sourcing for elements regionally or the world over. When thinking...

How To Promote Your Content Writing Services Via Social Media?

How To Promote Your Content Writing Services Via Social Media?

May 23, 2022
What is the Future of Mobile Gaming?

What is the Future of Mobile Gaming?

May 23, 2022
The Importance Of Hiring Crowd Control Services- Points To Note

The Importance Of Hiring Crowd Control Services- Points To Note

May 23, 2022
What Should You Know About Material Takeoffs?

What Should You Know About Material Takeoffs?

May 23, 2022

Smye Holland Associates




We bring you the best and latest news from around the world.

LEARN MORE »





Recent News

  • When sourcing product or labour overseas, what criteria should be considered? May 23, 2022
  • How To Promote Your Content Writing Services Via Social Media? May 23, 2022
  • What is the Future of Mobile Gaming? May 20, 2022

Categories

  • Business
  • Education
  • Finance
  • Food & Drinks
  • Health
  • Home Improvement
  • Lifestyle
  • National
  • News
  • Opinion
  • Politics
  • Sports
  • Technology
  • Travel
  • World

[mc4wp_form]

© 2018 JNews - City News Magazine WordPress theme. All rights belong to their respective owners.
JNews is a top selling 2018 WordPress News, Blog, Newspaper & Magazine Theme.

No Result
View All Result
  • Politics
  • Technology
  • Business
  • Health
  • National
  • Sports
  • Lifestyle
  • World
  • Opinion

© 2022 JNews - Premium WordPress news & magazine theme by Jegtheme.