Recession coming to major Western economies

Germany and Italy will face a downturn by the end of the year despite relief measures, the rating agency predicts Germany and Italy will slide into recession by the end of the year as inflation continues to rise, Fitch Ratings told Bloomberg on Thursday. Although the downturn is not expected to be “severe,” the head of sovereigns and supranationals at Fitch, James McCormack, says that “recession is significant in and of itself.” Inflation in Germany, the EU’s largest economy, accelerated in February, rising 9.3% on the year and 1% on the month, according to the latest figures from Germany’s Federal Statistical Off

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