The euro area economy re-entered recession in the first quarter, as initially estimated, due to the restrictions imposed to contain the spread of the Covid-19 pandemic.Gross domestic product contracted 0.6 percent from the fourth quarter, when GDP was down 0.7 percent, flash data from Eurostat revealed on Tuesday. The rate came in line with the estimate published on April 30.After a record expansi...
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Business News
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.