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ECB: Iran's conflict impacts Eurozone demand
The European Central Bank warned in a report that the Iran war is negatively impacting consumer spending in the Eurozone, as household expenditure declined sharply in the early weeks of the conflict, along with a drop in consumer confidence. Data showed that the growth rate in consumption slowed to approximately 2.5% annually in April, down from 3-4% since mid-2024, and significantly below pre-war levels, posing a threat to the fragile economic growth seen over the past few years.
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