The probability of recession in Europe is estimated above 50%, which is the highest in 1 year and 9 months. In Germany - the largest economy in the region - it is expected already in the current quarter. Such estimation of situation is given by Bloomberg agency on the basis of poll, carried out among economists.

The basic problems are the sharp rise in energy prices as a result of unprecedented sanctions against Russia and increased inflation. At the end of the current year, the average value of the latter is expected to reach 8%, economists polled by Bloomberg forecast - this is four times higher than the ECB's target. According to experts' expectations, interest rates will rise to 1% by the end of the year, and in September the regulator will raise them by 0.5 points.

The index of investor confidence in the German economy in August fell by 1.5 points compared with July, reaching a value of -55.3, said the country's Institute for Economic Research ZEW. It did not meet expectations of analysts, who expected its growth.