Eurozone consumer spending was poised to drive growth in 2022, but increasingly consumers' underpinnings have become shaky. While we still expect a solid rebound in Q2 as the economy emerges from the Omicron wave, headwinds are mounting for the rest of the year. In particular, soaring energy prices, a consequence of Russia's invasion of Ukraine, are squeezing real incomes and eroding the purchasing power of savings.
What you will learn:
Topics: Forecasts, Europe, Eurozone, Consumer spending, Consumption, Inflation, Recovery Tracker, Consumer, Recovery, Macroeconomics, Inflation risks, Economic recovery, Outlook, household savings, Russia, Consumer recovery, Energy prices, Energy