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Barclays Cuts Europe Growth Forecast Amid Energy Shock

6/9/2026

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Summary

Story summary

Barclays cut its European growth forecast to 0.7 percent in 2024 and 0.9 percent in 2025.
Europe faces a prolonged slowdown as higher energy prices and interest rates persist into next year.
Russia’s 2022 invasion of Ukraine cut Europe off from a key gas source, pushing inflation into double digits.
The Middle East war and Iran’s closure of the Strait of Hormuz have extended the energy shock.

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Story summary

Barclays cut its European growth forecast to 0.7 percent in 2024 and 0.9 percent in 2025.
Europe faces a prolonged slowdown as higher energy prices and interest rates persist into next year.
Russia’s 2022 invasion of Ukraine cut Europe off from a key gas source, pushing inflation into double digits.
The Middle East war and Iran’s closure of the Strait of Hormuz have extended the energy shock.