Business activity in the 20-country Eurozone slowed unexpectedly this month after French President Emmanuel Macron’s call for elections shocked markets and the area’s industrial sector saw its worst month this year.
Tag: Eurozone
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EUROZONE BUSINESS ACTIVITY ACCELERATES IN MAY
Business in the 20-country Eurozone was more brisk in May than it has been in a year, the Hamburg Commercial Bank’s purchasing managers index (PMI) showed.
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EUROZONE SHOWS ECONOMIC SPURT IN APRIL
In April, the Eurozone’s flash purchasing managers index (PMI) for the overall economy rose to 51.4 from 50.3 in March, the strongest rating in 11 months. Analysts in a Reuters poll had predicted a reading of 50.8.
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WAGE GROWTH MAY SLOW INFLATION’S FALL, DELAY ECB RATE CUTS
The Eurozone’s annual rate of wage increases rose to 4.7 percent in 2023’s third quarter, the fastest pace in the common currency’s 25-year history, the Financial Times reported.
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IRISH FACTORY OUTPUT SLIPS IN OCTOBER
Ireland’s factory output sank 0.7 percent in October, more than twice the 0.3-percent decline analysts had forecast.
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CORPORATE BANKRUPTCIES RISE BY DOUBLE DIGITS
In advanced economies, business failures are climbing at a double-digit rate compared to last year as governments’ $10-trillion COVID-era support programs end and central banks’ high interest rates continue, the Financial Times reported.
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TOP TREND 2023, OFFICE BUILDING BUST: TROUBLED COMMERCIAL PROPERTY LOANS ARE INCREASING, ECB WARNS
Eurozone real estate companies are seeing mounting losses amid high interest rates, inflated operating costs, falling property values, and a weak rental market, the European Central Bank (ECB) reported.
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EUROZONE FALLING INTO A RECESSION: DRAGFLATION NEXT
As we had forecast when the European Central Bank began raising interest rates in July 2022, the EU would sink into recession. The Eurozone’s economy contracted by 0.1 percent in this year’s third quarter.
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EUROZONE ECONOMY HEADED FOR “ANOTHER LOST YEAR”
Europe’s economy appears to be poised to enter a technical recession, defined as two consecutive quarters of shrinkage. The region’s GDP shrank by 0.1 percent in the third quarter and is widely expected to contract again in this year’s final three months.
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EUROZONE UNEMPLOYMENT JUMPS IN SEPTEMBER
In September, 69,000 workers lost their jobs in the 20-nation Eurozone, nudging the jobless rate to 6.5 percent. More than 11 million people across the region are now out of work, 165,000 more than a year earlier, the Financial Times reported.