1:37 p.m .: The European economy still shines in the spring, but the horizon is darkening
Thanks to a rebound in tourism, Europe’s economy grew solidly in the spring, weathering the war-fueled inflation surge in Ukraine better than expected, but Germany is faltering and might drag the continent into the recession.
Expected to slow sharply, economic growth defied forecasts in the second quarter in the 19 countries sharing the single currency. Up 0.7%, it even accelerated compared to the first three months of the year. In the EU as a whole, it grew only slightly slower (0.6%), according to data from the European statistics office Eurostat published on Friday.
