FRANKFURT, Germany—The European economy slowed noticeably at the end of last year as surging COVID-19 cases driven by the omicron variant piled on top of supply shortages and rising energy prices that dented consumer purchasing power. The result: An economic winter of discontent that may not lift until later this year.
Much of the slowdown came in Germany, Europe’s largest economy, where difficulty getting parts held back its export-heavy manufacturing economy. France, Spain and Italy showed stronger growth.
