Eurozone economy shrinks by 0.1%, putting it at brink of recession

A woman looks up from the O'Connell Bridge in Dublin. The Irish economy shrank by 1.8% in the third quarter. Photograph: Artur Widak/NurPhoto/Rex/Shutterstock

The eurozone is teetering on the brink of a winter recession after the latest official figures showed its economy contracted by 0.1% in the third quarter of 2023.

In a worse than forecast performance, the 20-nation single currency zone has now failed to grow in three of the past four quarters, leaving its economy only 0.1% higher than it was a year earlier.