The euro area economy contracted marginally in the third quarter as previously estimated, solely due to weaker global demand, suggesting that the currency bloc is on the verge of a recession. Gross domestic product shrunk 0.1 percent quarterly, offsetting the 0.1 percent expansion in the second quarter, data published by Eurostat showed on Thursday.The statistical office revised down the second q...
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May 15, 2026 15:25 ET Apart from the confirmation of Kevin Warsh as the next Fed chair, the main news on the economics front this week included key price data from the U.S. and the first quarter economic growth figures from major economies. Both consumer prices and producer costs have started to reflect the effect of supply shocks due to the Middle East conflict. In Europe, GDP data was in focus, while inflation data from China dominated the news flow in Asia.