Goldman Sachs no longer expects euro zone recession in 2023

Representative image. Credit: iStock Photo

Goldman Sachs now expects the euro zone economy to grow by 0.6 per cent this year, compared with its previous forecast of a contraction, following resilient growth momentum at the end of 2022, falling natural gas prices and the reopening of China's borders.

The brokerage had earlier expected a 0.1 per cent contraction for the region.