By Dominique Berns
NOTCould our economies go into recession? Are some already there? The question is now explicitly asked in the United States, but also in Europe, after the publication, last week, of the first estimates of GDP in the second quarter.
Across the Atlantic, economic activity – measured by gross domestic product in volume – has indeed contracted for the second consecutive quarter.
And if the European economy seems to be doing better, since the GDP showed, from April to June, a growth of 0.7% compared to the three previous months, the prospects are not cheerful, in particular because the German economy , the “engine” of the zone, stagnated in the second quarter.
Belgium did little better (+0.2%), which is not surprising given the important trade relations between the two neighbours.
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