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The euro-region economy is expected to have contracted in the third quarter due to interest-rate hikes, with official figures due next week. Nordic consumers, particularly in Sweden and Norway, are experiencing the impact of higher prices and credit costs. Despite an economic slowdown, Swedish businesses expect to raise prices, though retailers may refrain due to intensifying competition, as indicated by the Riksbank's business survey. Sweden's economy is stagnating due to rising borrowing costs and growing unemployment. In the US, credit card defaults are surging, reaching levels unseen in three decades, straining consumer resilience amid rising delinquencies, growing debt payments, and dwindling cash piles. Austria's economy has also fallen into recession due to a slump in consumption and investments.
Austria’s economy falls into recession, with a slump in consumption and investments driving down output for a second consecutive quarter https://t.co/Bg55NKFrXT
Austria’s economy falls into recession, with a slump in consumption and investments driving down output for a second consecutive quarter https://t.co/r8i4bOzcvb
Sweden’s economy stagnates, driven by rising borrowing costs and growing unemployment https://t.co/gcghGnBAMC
Sweden’s economy stagnates, driven by rising borrowing costs and growing unemployment https://t.co/KXMCX4Cjls
Credit card delinquencies are exploding higher… https://t.co/wFe7DD1KF1
The resilience of US consumers is about to be tested with rising delinquencies, growing debt payments and dwindling cash piles https://t.co/eIyrVpb4DS
The resilience of US consumers is about to be tested with rising delinquencies, growing debt payments and dwindling cash piles https://t.co/cHeQj2mhWS
This is WORSE than the 2008 Financial Crisis Credit card defaults are rising at levels NEVER seen in 3 decades https://t.co/ckQqHGWKKg
Swedish retailers are likely to refrain from raising prices further as the economy slows and competition intensifies, the Riksbank’s latest business survey shows https://t.co/3J6zGMjI6d
Swedish businesses still expect to raise prices more than usual, according to a survey indicating that inflationary pressures remain despite a slowdown in the economy https://t.co/JCHyprLQZd
Consumers in Sweden and Norway are feeling a stronger pinch from higher prices and credit costs in the two Nordic economies that have so far been relatively resilient to the cost-of-living surge https://t.co/7xyYkADn62
The euro-region economy stalled or even contracted in the third quarter under the weight of successive interest-rate hikes, according to forecasters -- we'll find out if they are right next week when official figures are released https://t.co/AQ9b2amqOf