De Guindos says eurozone faces technical recession

Luis de Guindos
Luis de Guindos
Adrian Petty/ECB

Early indicators suggest the eurozone slipped into a technical recession in the second half of 2023, European Central Bank vice-president Luis de Guindos said today (January 10).

In comments at a conference in Madrid, de Guindos noted the eurozone economy contracted slightly in the third quarter of 2023. “Soft indicators point to an economic contraction in December too, confirming the possibility of a technical recession,” he said. A technical recession is usually defined as two consecutive

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