Skip to content
Customize Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorized as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyze the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customized advertisements based on the pages you visited previously and to analyze the effectiveness of the ad campaigns.

No cookies to display.

EUROZONE BUSINESS ACTIVITY TURNS NEGATIVE IN JULY

Business activity in the 19-country Eurozone contracted in July for the first time since February 2021, according to S&P Global’s composite purchasing managers index (PMI).

The index fell to 49.4 in July from 52.0 in June. Economists surveyed by Reuters had predicted a rating of 51.

Ratings below 50 indicate contraction.

The turn to contraction heightens analysts’ expectation that the Eurozone’s economy will fall into recession this year, the Financial Times reported.

The euro slipped 0.7 percent on the survey’s result, to $1.015. Germany’s 10-year bond yield sank to 1.07 percent, the lowest since May, on bets that the looming recession will force the European Central Bank to slow or stop raising interest rates.

TRENDPOST: Europe is bearing a large share of the economic brunt of not only the Ukraine war, but also of Western sanctions designed to punish Russia for its invasion… which we have detailed is punishing the people and not Putin as President Biden had predicted. 

The war will remain not only a protracted struggle between Ukraine and Russia, but also between Europe’s ability to hold firm on sanctions and the exhaustion of the region’s residents and economy as prices rise and jobs disappear.