Eurozone economy avoids recession ‘by a whisker’

Warmer winter, lower energy prices and China’s reopening help Europe surprise economists and stave off severe downturn

The eurozone has defied predictions that the Ukraine war would plunge it into recession after a warm winter blunted the impact of higher energy prices.

Data from Eurostat – the EU’s statistical agency – showed that growth in the 20 countries using the single currency stood at 0.1% in the first three months of 2023.