- EU economy shrinks 0.1% quarter-on-quarter, while employment remains stable
Who did the expecting, and what where they expecting? Given the situation in the world I don’t think it is surprising at all.
Yeah - it totally is expected that the economy might run into problems when there is a unprovoked and unexpected war in the middle east that totally is creating a new oil crisis.
The Iran situation probably didn’t help much. The important part is that employment rates keep growing overall.
When will people learn that gdp isn’t a good performance indicator
GDP is just measure of flow of money. It doesn’t track where the money originates or gets spent. When’s bank creates money out of nowhere for business to use for a project, that still counts towards the GDP.
Yes even as a metric for potential economic performance it’s a poor one.
In the long run it’s what matters though, it’s much harder to have a functioning country if you don’t have money to run itself
