Oliver Mangan: Four factors prevent Europe from recession

The Eurozone economy is close to stagflation, with inflation of over 6% forecast, but a number of factors support growth

A bumper summer holiday season is anticipated after two years of Covid-disrupted activity. Picture: Laurent Sanson

The Eurozone economy grew by a subdued 0.3% in the first quarter of 2022, a repeat of its performance in the final three months of last year. 

The softness in growth reflected the impact of Covid restrictions on activity over the winter months, with rising inflation also weighing on spending power.