Euro Zone Economy On Track For Double-dip Recession

The euro zone’s economic recovery stalled last month as a second wave of coronavirus cases and restrictions imposed to try and contain it whacked activity in the bloc’s dominant service industry, pointing to a double-dip recession, a survey showed, The Irish Times reported. Alongside their peers, Germany and France -- the 19-country bloc’s two biggest economies -- have reimposed tough lockdown measures, likely dealing a heavy blow this month as restaurants, gyms and shops remain closed and citizens stay at home. “With lockdown measures being tightened, it is becoming increasingly hard to see how the euro zone economy will avoid falling back into decline,” said Chris Williamson, chief business economist at survey compiler IHS Markit. “For all countries the outlook has grown increasingly dark.” Read more