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Russian Invasion Deals Blow to European Business Confidence, but Some Stay Upbeat
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Russia’s invasion of Ukraine has ended a monthslong rise in optimism among eurozone households and businesses, though both remain more upbeat than during the darkest months of the Covid-19 pandemic.
The invasion has pushed prices of energy, food and some other commodities sharply higher, while many European businesses have suspended activities in Russia. The conflict has also upset supply chains, disrupting industrial production in Europe, while millions of refugees from Ukraine have sought safety across the continent.
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