Euro zone faces 2% recession, 10% if lockdown lasts – S&P Global

The coronavirus pandemic will push the euro zone and Britain into recession this year, with their economies expected to shrink by as much as 2%, the international ratings agency S&P Global warned today.  “The euro zone and UK are facing recessions. We now expect GDP (gross domestic product) to fall around 2% this year due […]

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Euro zone business lending still weak amid slowdown

Lending to euro zone companies held at a two-year low last month despite lending to households hitting yet another post-crisis high, European Central Bank data showed today.  Today’s new figures highlighted a growing divergence in the bloc’s economy.  Struggling under the weight of a global trade war and a manufacturing recession euro zone exporters have […]

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Euro zone GDP slows as expected in fourth quarter

Euro zone economic growth slowed as expected in the last three months of 2019 as gross domestic product shrank in France and Italy compared to the previous quarter. But employment growth picked up more than expected, official estimates showed today.  The European Union’s statistics office Eurostat said GDP in the euro zone expanded 0.1% quarter-on-quarter […]

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EU leaves euro zone growth forecast unchanged for this year and next

The European Commission has today kept its economic forecast for moderate euro zone growth for this year and 2021.  But it raised slightly its projection for inflation, noting the spread of the coronavirus was the key downside risk.  In an interim outlook for gross domestic product (GDP) growth and consumer inflation for the 19 euro […]

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EU leaves euro zone growth forecast unchanged for this year and next

The European Commission has today kept its economic forecast for moderate euro zone growth for this year and 2021.  But it raised slightly its projection for inflation, noting the spread of the coronavirus was the key downside risk.  In an interim outlook for gross domestic product (GDP) growth and consumer inflation for the 19 euro […]

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Euro zone industrial output tumbles more than expected in December

Euro zone manufacturing output plunged more than expected in December ending a weak quarter for the single currency area, official estimates showed today.  Industrial production fell 2.1% month-on-month in the euro zone, the EU statistics agency Eurostat said, in a slump that was worse than the 1.6% fall predicted by economists polled by Reuters.  Year-on-year, […]

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Euro zone economy remains weak but green shoots emerging

Euro zone business activity remained lacklustre at the start of the year, a survey showed today but there were some glimmers of hope for policymakers.  The survey comes a day after the European Central Bank said the manufacturing sector remained a drag on the euro zone economy.  ECB rate-setters did not make any policy change […]

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Euro zone business activity close to stagnation despite services bounce – PMI

Euro zone business activity remained close to stagnation at the end of last year, a survey showed today, as an upturn in services activity only partially offset a continued decline in the bloc’s manufacturing industry.  IHS Markit’s final euro zone composite Purchasing Managers’ Index (PMI), seen as a good indicator of economic health, nudged up […]

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Euro zone growth curbed by trade, retail sales slowdown

The euro zone economy grew at a modest pace in the third quarter with a negative impact from trade, while retail sales fell at their sharpest rate this year in October, data showed today.  Gross domestic product (GDP) in the euro zone was up 0.2% in the three months from July to September. This was the […]

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