The eurozone is on the brink of recession after output fell for the first time since the pandemic.
Statistics agency Eurostat said gross domestic product across the single currency bloc fell 0.1 percent in the third quarter of the year.
It was the first quarterly decline since the spring 2020 lockdowns and came as the region was weakened by the moribund German economy.
Output drop: Statistics agency Eurostat said gross domestic product across the single currency bloc fell 0.1% in the third quarter of the year.
Separate Eurostat figures showed inflation fell from 4.3 percent in September to 2.9 percent in October, its lowest level since July 2021 and closer to the 2 percent target.
Falling inflation and falling output underscored the harsh effect of rising interest rates on the economy.
Rates in the UK are believed to have peaked and the Bank of England will leave them at 5.25 per cent tomorrow.
Economists warned that the outlook in the eurozone was bleak, with the possibility of another quarter of contraction in the final three months of the year.
That would lead the region into a recession.