Recession reality hits major economies
Posted on AllSides February 15th, 2024
From The Left
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Illustration: Aïda Amer/Axios
Japan and the U.K. each saw their economies shrink for two consecutive quarters, meeting the technical definition of a recession, according to data out Thursday. Meanwhile, in Europe, officials said they expect weaker economic growth across the bloc.
Why it matters: This year may see more global economic turmoil than last as nations struggle to rebound from slowdowns that are worse than previously known. The effects of these slowdowns — together with one in China — could ripple around the rest of the world in unknown ways.
Where it stands:...