7 December 2022
Braced for turbulence
There’s no doubt about it – the macroeconomic outlook is miserable, and Europe is being hit the hardest. According to S&P, the UK is already in the throes of a full-year recession.
Fitch, meanwhile, predicts that the continent will start to slide backwards in the fourth quarter, with Germany and Italy particularly exposed due to the former’s large industrial base and the latter’s heavy reliance on natural gas.