Europe’s 18-nation euro bloc is facing new economic pressure, with its third biggest economy in Italy unexpectedly falling again into a recession.
Italy said Wednesday that its economy contracted two-tenths of one percent in the April-to-June period, on the heels of a first-quarter drop as well. It was the third time Italy has slipped into a recession since 2008.
Meanwhile, Germany, the eurozone’s biggest economy, reported that manufacturing orders dropped in June at the fastest pace in nearly three years. Berlin said that geopolitical risk led to a “reticence” in placing factory orders.
Analysts say that political tensions in Europe over Russia’s intervention …read more
Source: Voice of America
