Europe Bracing for Recession as People Struggle With Increasingly High Cost of Living

Europe Bracing for Recession as People Struggle With Increasingly High Cost of Living
Steam leaves a cooling tower of the Lichterfelde gas-fired power plant in Berlin on March 30, 2022. Michael Sohn/AP Photo
Naveen Athrappully
Updated:
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Europe is showing signs of heading into a recession as multiple economic surveys show the region’s services and manufacturing sectors slowing down while a large number of the continent’s citizens are struggling to cope with rising prices.

The S&P Global Eurozone Composite Output Index fell to an 18-month low in August at 48.9, according to a Sept. 5 news release (pdf).
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