European stock markets fell on Thursday as statistics revealed that Germany, the region’s largest economy, fell into recession in the first quarter of the year.<\/p>\n\n\n\n
At 03:15 ET (07:15 GMT), the DAX index in Germany was down 0.2%, the FTSE 100 in the United Kingdom was down 0.4%, and the CAC 40 in France was down 0.3%.<\/p>\n\n\n\n
German first-quarter output fell 0.3% from the previous three months, following a 0.5% dip between October and December, according to data released earlier Thursday. As a result, Europe’s key growth engine experienced a winter recession.<\/p>\n\n\n\n
“The reluctance of households to buy was apparent in a variety of areas,” the German statistics office said in a statement. “Households spent less money on food and beverages, clothing and footwear, and furnishings.”<\/p>\n\n\n\n
The June GfK consumer mood survey also revealed that German sentiment remained sluggish throughout the year, with the index only marginally improving to -24.2 in June from -25.7 the previous month.<\/p>\n\n\n\n
Despite this bleak picture, Governing Council member Bostjan Vasle stated in an interview with a Slovenian newspaper on Thursday that the European Central Bank must raise borrowing costs further in order to bring inflation to its aim.<\/p>\n\n\n\n
Vasle joins several other members of the ECB’s 26-member Governing Council in asking for more rises that might go into the summer.<\/p>\n\n\n\n
Investors are particularly concerned about the sluggish pace of development in discussions to raise the United States’ debt ceiling.<\/p>\n","protected":false},"excerpt":{"rendered":"
European stock markets fell on Thursday as statistics revealed that Germany, the region’s largest economy, fell into recession in the first quarter of the year. At 03:15 ET (07:15 GMT), the DAX index in Germany was down 0.2%, the FTSE 100 in the United Kingdom was down 0.4%, and the CAC 40 in France was …<\/p>\n","protected":false},"author":9,"featured_media":82172,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[7211,6877,6928,6882],"class_list":["post-84485","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-currencies","tag-dollar","tag-euro","tag-forex"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/84485","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=84485"}],"version-history":[{"count":1,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/84485\/revisions"}],"predecessor-version":[{"id":84486,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/84485\/revisions\/84486"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/82172"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=84485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=84485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=84485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}