The energy squeeze is projected to inevitably drag down economic activity Euro area countries face an 80% chance of a recession in the next 12 months due to soaring energy prices along with a severe power-supply crunch, according to economists polled by Bloomberg. The projection, which is up from 60% in a previous survey, puts the risk of recession in the single-currency zone at the highest level since July 2020, the agency reported on Monday. Germany, the bloc’s biggest economy, is reportedly among the most exposed to gas supply reductions, and is forecast to begin shrinking as soon as this quarter. The situatio
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