Easing Eurozone Downturn Offers Hope of Milder Recession

Easing Eurozone Downturn Offers Hope of Milder Recession
The financial and business district of La Defense in Puteaux near Paris on Feb. 7, 2022. Gonzalo Fuentes/Reuters
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LONDON—The downturn in eurozone business activity eased slightly in November offering a glimmer of hope the expected recession may be shallower than feared, but consumers still cut spending amid a cost of living crisis, a survey showed on Wednesday.

There has been mounting evidence the bloc is entering a recession and in a Reuters poll published on Tuesday economists gave a 78 percent chance of one within a year, with GDP expected to fall 0.4 percent this quarter and next.