Not so long ago, Europe was practically written off. The war in Ukraine and the associated energy crisis should plunge the national economy into a deep and long recession and the stock markets with it. Germany should be particularly hard hit with its heavy dependence on Russian gas and the energy-intensive production of many companies.
Suddenly, however, the mood has changed. The economists at Goldman Sachs are no longer assuming a recession in the euro zone. They revised their forecast on Tuesday. According to this, the region is expected to grow by 0.6 percent in 2023. This is mainly due to the rapid fall in gas prices and the reopening of the economy in China.
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