Eurozone Likely to Endure Recession as Downturn Deepens

Eurozone Likely to Endure Recession as Downturn Deepens
Workers assemble campers at Knaus-Tabbert AG factory in Jandelsbrunn near Passau, Germany on March 16, 2021. Andreas Gebert/Reuters
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LONDON—The drop in eurozone business activity deepened last month, a survey showed, probably extinguishing any hope the currency union would avoid recession just as elevated inflation puts pressure on the European Central Bank to act.

Businesses and consumers are wary of spending as the region heads into the winter months with already high energy prices likely to climb further, while firms are also suffering from supply chains disrupted by Ukraine’s war.