Tag: Eurozone

The euro zone’s economy grew by more than expected in the second quarter of 2024, flash figures from the European Union’s statistics office showed Tuesday.

China announced on Friday the next step in its anti-dumping investigation into European brandy imports, ramping up tension on the same day the European Commission’s provisional tariffs on Chinese-made electric vehicles take effect.

The European Union will impose tariffs of up to 37.6% from Friday on imports of electric vehicles made in China, EU officials said, ratcheting up tensions with Beijing in Brussels’ largest trade case yet.

Both the services and composite readings are three-month lows, reaffirming a slowdown in the economy towards the end of Q2. Of note, demand for euro area goods and services decreased for first time since February.

Eurozone inflation slowed to 2.5 per cent in June, but policymakers will remain concerned by strong increases in services prices that partly offset weaker growth in energy and fresh food costs.

Beijing wants the EU to scrap plans to impose preliminary tariffs on Chinese electric vehicle imports by July 4, China’s state-controlled Global Times reported, after both sides agreed to negotiate a possible compromise.

The rebound in euro-area private-sector business activity unexpectedly lost momentum as France’s snap election weighed on firms and manufacturing in the region recorded its worst month of the year.

No changes to the initial estimates as euro area inflation remains stickier in May.

China has opened an anti-dumping investigation into imported pork and its by-products from the European Union, a step that appears mainly aimed at Spain, the Netherlands and Denmark, in response to curbs on its electric vehicle exports.

Shares of European carmakers fell on Wednesday following a report that some of the world’s largest auto manufacturers face possible lawsuits in Britain for allegedly cheating emissions tests.

The euro fell vs. the British pound on Monday after European political turmoil that saw France call an unexpected election and Belgium’s prime minister resign.

Inflation in the euro zone rose to 2.6% in May, statistics agency Eurostat said Friday, but a higher-than-expected print did not sway market bets of an interest rate cut from the European Central Bank next week.

Την αγωνία τους για το μέλλον της Ευρωπαϊκής Ενωσης εξέφρασαν δύο κορυφαίοι Ελληνες επιχειρηματίες, ο πρόεδρος του ΣΕΒ ∆. Παπαλεξόπουλος και ο πρόεδρος της Eurometaux Ευ. Μυτιληναίος, μιλώντας σε εκδήλωση του Συνδέσμου ενόψει των ευρωεκλογών.

Industrial production in the euro area rose for a second straight month in March, helping lift economic growth in the bloc at the start of 2024, despite once again being heavily influenced by volatile Irish output.

Euro zone business activity expanded at its fastest pace in almost a year last month as a resurgence in the bloc’s dominant services industry more than offset a deeper downturn in manufacturing, a survey showed on Monday.

Price rises in the euro area held steady at 2.4% in April, while the economy returned to growth in the first quarter, according to flash figures published Tuesday.

The PMI increased from 50.3 to 51.4 in April, suggesting that the eurozone economy is finally leaving stagnation and returning to growth at the start of the second quarter.

Industrial production in the eurozone rebounded in February, driven by output increases in larger nations, a sign that some of the slump in the sector could be over, despite a still subdued environment for manufacturing.

Activity in the eurozone’s private sector returned to growth last month, led by southern European economies while Germany and France continue to lag, according to a survey of purchasing managers released Thursday.

Inflation in the 20-nation euro zone eased to 2.4% in March, according to flash figures published Wednesday.