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Double-Dip Recession Beckons in Europe as Lockdowns Drag On


The euro-area economy is poised to shrink again at the start of this year as the resurgent pandemic plunges the region into a double-dip recession. Analysts at banks including JPMorgan Chase & Co. and UBS Group AG are downgrading forecasts to account for renewed lockdowns -- in some places tougher than ever -- and the prospect that the new coronavirus variant ravaging the U.K. will do the same on the continent. Add vaccination delays to trade disruptions because of Brexit, and the scene is set for a second straight quarter of falling gross domestic product. That would echo the downturn at the start of 2020, even if less severe, and increase pressure on indebted governments and the European Central Bank, which meets to set policy next week, to provide more financial support.

Bloomberg - January 12, 2021

View the full story here: https://www.bloomberg.com/news/articles/2021-01-12/euro-area-heads-for-double-dip-recession-as-lockdowns-drag-on