Europe’s Stagnant Economy

The EU's economy did not grow at all in the second quarter.

Open as PDF

EU Economic Update | Q2-2023
(click to enlarge)

Europe’s economy stalled in the second quarter of 2023, registering no growth at the European Union level and growth of just 0.1 percent in the eurozone. Industrial production saw an especially sharp downturn in the final month of the quarter, falling 1.1 percent relative to the month before, while the volume of retail trade ticked down slightly. Two bright spots are inflation, which continued to slow, and unemployment, which remained both stable and around record lows. However, deteriorating economic sentiment across the board suggests it will be a while before European economies rebound.

Geopolitical Futures
Geopolitical Futures (GPF) was founded in 2015 by George Friedman, international strategist and author of The Storm Before the Calm and The Next 100 Years. GPF is non-ideological, analyzes the world and forecasts the future using geopolitics: political, economic, military and geographic dimensions at the foundation of a nation.