Recession in the eurozone has now become the most likely possibility against the backdrop of the intensifying natural gas crisis, Fitch Ratings estimates in its new report. In particular, as the rating agency reports, the complete cessation of Russian natural gas flows to the EU increasingly looks like the logical assumption for the elaboration of […]
Tag: Eurozone
Eurozone: Unemployment fell to 6.6% in July, Greece to 11.4%
Unemployment fell in July in the Eurozone, despite shocks to the European economy from the war in Ukraine and the rally in inflation. In particular, the unemployment rate fell to 6.6% in July from 6.7% in June and 7.7% in July 2021. In the E.U. unemployment fell to 6% from 6.1% in June and 6.9% […]
Eurozone: At the lowest level since June 2020 the manufacturing PMI
European manufacturing activity continued to contract in August, with the relevant PMI falling to a 26-month low, as the inflation rally continues to weigh on demand. In particular, the S&P Global manufacturing PMI for the Eurozone fell in August to 49.6 points from 49.8 points, widening its distance from the 50 point level that separates […]
German and Eurozone manufacturing PMI data disappoint in August and remain in contraction territory
The German manufacturing PMI fell two tenths in August, falling to 49.1 points from the previous 49.3, placing it for the second consecutive month in contraction territory. In addition, the indicator disappointed market expectations, which expected an increase to 49.8 points. The August figure is the weakest seen in 26 monthsspecifically since June 2020. According […]
Eurozone: Annual inflation reaches a new all-time high of 9.1% in August
The Preliminary consumer price index (CPI) for the euro zone has risen to 9.1%, a new all-time high. The indicator grows two tenths from the 8.9% registered in July, and exceeds market expectations of 9%. Regarding the main components of inflation in the euro area, Eurostat reveals that energy is expected to have the highest […]
Eurozone: New record of inflation at 9.1% in August, +11.1% in Greece
Inflation in the Eurozone continued its rally in August, surpassing analysts’ estimates with a new record high of 9.1% from 8.9% in July, according to the initial data released today by Eurostat. Analysts’ average estimates put the index at 9%. The jump in energy prices remains dizzying, with an annual rate of 38.3% in August […]
The economic climate in the Eurozone fell to an 18-month low
Economic sentiment in the eurozone worsened again in August, weighed down by high inflation and a bleak outlook. The Commission said on Tuesday that its economic sentiment index – an overall measure of business and consumer confidence – fell to 97.6 in August from 98.9 in July, the lowest level since February 2021. Economists polled […]
Goldman Sachs: Impressive performances in Greece, Portugal and Spain limit recession in Eurozone that has already begun
Her Eleftherias Kourtalis The ongoing energy crisis has further weakened growth prospects across Europe, with Goldman Sachs now expecting a recession in the Eurozone, which it estimates has already started in the current third quarter and will continue into the fourth quarter. However, the North-South development gap is huge, as he emphasizes, with resilience and […]
Goldman Sachs: Impressive performances in Greece, Portugal and Spain limit the recession in the Eurozone
Her Eleftherias Kourtalis The ongoing energy crisis has further weakened growth prospects across Europe, with Goldman Sachs now expecting a recession in the Eurozone, which it estimates has already started in the current third quarter and will continue into the fourth quarter. However, the North-South development gap is huge, as he emphasizes, with resilience and […]
Reuters: Some ECB members want to start talking about 75 basis point hikes
Some members of the European Central Bank want the bank’s next meeting in September to discuss raising interest rates by 75 basis points, despite the risk of a recession in the Eurozone, as the picture on the path of inflation worsens, Reuters reported, citing five sources with knowledge of the case. THE ECB raised interest […]