Salem Radio Network News Saturday, September 23, 2023


Europe’s economy shrank. For households that are hurting, it’s just numbers


( ) -q-25- UNDATED (Correspondent Jeremy House) “definition of recession.”

The European economy has contracted slightly at the end of last year and beginning of 2023.

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TAG: Correspondent Jeremy House reporting.

VERBATIM: The revised figures from the European Union’s statistics agency underline the impact of the loss of Russian natural gas and high inflation on consumer spending. Economic output in the 20 countries that use the euro currency dropped 0.1% in both the final three months of 2022 and first three months of this year from the previous quarters. Two consecutive quarters of declining output is one definition of recession.

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