Euro Zone Likely Entering Recession As Price Rises Hit Deman...| MENAFN.COM

Monday, 03 October 2022 05:32 GMT

Euro Zone Likely Entering Recession As Price Rises Hit Demand


(MENAFN- Jordan News Agency)


Amman, Sept. 23 (Petra)-- A downturn in business activity across the euro zone deepened in September, according to a survey which showed the economy was likely entering a recession as consumers rein in spending amid a cost of living crisis.
Manufacturers were particularly hard hit by high energy costs after the crisis in Ukraine sent gas prices rocketing, while the bloc's dominant services industry suffered as consumers stayed at home to save money.

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