Europe’s economy barely grows as inflation pinches consumers

A customer pays for vegetables at the Maravillas market in Madrid (Manu Fernandez/AP)

The European economy scraped out meagre growth of 0.1% in the first three months of the year, barely gaining momentum after dodging a winter recession as challenges persist from inflation that corrodes people’s willingness to spend.

Friday’s less-than-stellar figure follows disappointing growth estimates from the US a day earlier that kept alive fears of a looming recession in the world’s largest economy.