The eurozone's economic output grew only 0.4 percent from July to September, signaling a sluggish recovery compared to a 3 percent growth rate in the U.S.
Alfred Kammer of the I.M.F. warned that Europe's economic recovery is falling short of its potential due to loss of competitiveness and other issues exacerbated by the Ukraine war.
Mario Draghi emphasized that Europe’s ongoing loss of competitiveness threatens its economic foundation, as highlighted in a critical report discussing the region's challenges.
High energy prices, stemming from the aftermath of losing Russian gas, continue to impact industries harshly, primarily affecting Germany’s key manufacturing sector.
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