Europe’s economy barely grows as inflation pinches consumers

FRANKFURT, Germany (AP) — The European economy has scraped out meager growth of 0.1% in the first three months of the year. That’s barely momentum after Europe dodged a winter recession and challenges persist from inflation that corrodes people’s willingness to spend. Friday’s less-than-stellar figure follows disappointing growth estimates from the U.S. a day earlier that kept alive fears of a looming recession in the world’s largest economy. The 20 countries that use the euro currency have picked up speed in the first quarter after zero growth in the last three months of 2022. Industrial activity has picked up, but inflation is holding back consumer spending.