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A sharp slowdown in eurozone growth is imminent. This is what the S&P Global Ratings eurozone economic outlook for the third quarter indicates. “An unprecedented deterioration in trading conditions has pushed inflation to record highs and confidence to record lows – remarks S&P -. Consequently, the five consecutive quarters of solid GDP growth, starting from the second quarter of 2022, will give way to two or three quarters of reduced or even less activity ”.
S&P expects the Eurozone economy to stagnate next year (0.3% versus 1.9% previously). For this year, S&P revises its growth forecast up to 3.1% from 2.6% and lowers its unemployment forecasts.