Tag: Eurozone

Industrial output in the eurozone contracted for the third month in a row November, reflecting the continued downturn in the sector.

The euro zone may have been in recession last quarter and prospects remain weak, European Central Bank Vice President Luis de Guindos said on Wednesday, adding that the recent rapid slowdown in inflation is likely to take a pause now.

Eurozone inflation rose to 2.9 per cent in December, reversing six months of consecutive falls and raising questions over how soon the European Central Bank would start cutting interest rates.

Economic activity in the eurozone contracted in December for the seventh month in a row, at a stronger pace than in November, amid weakening demand and a gloomy economic outlook, data from a purchasing managers’ survey showed Friday.

The downturn in manufacturing activity softened slightly in November and business confidence is at a three-month high. Experts nonetheless say a recovery is far-off.

The broad-based downturn in euro zone manufacturing activity eased slightly last month but the sector remained deeply rooted in contractionary territory, prompting factories to trim staffing levels for a sixth straight month.

Annual inflation in the euro zone cooled to 2.4% in November from 2.9% in October, well below foreacasts.

FRANKFURT, Nov 10 (Reuters) – Euro zone inflation could tick up in the coming months but European Central Bank interest rates held at their current level for long enough could still get price growth back to the 2% target, ECB President Christine Lagarde said on Friday.

MADRID, Nov 7 (Reuters) – The euro zone’s economy is likely to contract slightly or at best stagnate in the fourth quarter, ECB’s vice president Luis de Guindos said on Tuesday.

LONDON, Nov 6 (Reuters) – The downturn in euro zone business activity accelerated last month as demand in the dominant services industry weakened further, a survey showed on Monday, suggesting there is a growing chance of a recession in the 20-country currency union.

Core inflation — which excludes volatile food and energy prices — dropped to 4.2% year-on-year in October from 4.5% in September.

Eurozone economic sentiment worsened again in October, marking six months of continual decline, as confidence slid among industry and consumers alike.

LONDON, Oct 24 (Reuters) – Euro zone business activity took a surprise turn for the worse this month as demand fell in a broad-based downturn across the region, a survey showed, entering the fourth quarter on the wrong foot and suggesting the bloc may slip into recession.

Χωρίς να βγει «λευκός καπνός» σχετικά με το νέο πλαίσιο δημοσιονομικής διακυβέρνησης, που θα πρέπει να τεθεί σε ισχύ το 2024, ολοκληρώθηκε η συνεδρίαση του Συμβουλίου Οικονομικών και Δημοσιονομικών Υποθέσεων της ΕΕ (Ecofin), όπως δήλωσε η προεδρεύουσα, Ισπανίδα υπουργός Οικονομικών, Νάντια Καλβίνο.

BRUSSELS, Oct 4 (Reuters) – Euro zone retail sales fell much more than expected in August, data showed on Wednesday, pointing to weaker consumer demand as inflation remains high.

Annual inflation in the euro zone cooled to its lowest level since October 2021, falling to 4.3% in September, flash figures showed on Friday.

The euro zone economy is likely contract this quarter and won’t return to growth anytime soon, a survey showed, as the dampening effect of central banks’ long campaign of interest rates rises becomes clearer.

Inflation in the euro zone came in higher than analysts had expected for the month of August, although coming in unchanged from the previous month and complicating the role of the region’s central bank.

Growth in lending to euro zone companies slowed again in July, adding to already mounting evidence that sharply higher interest rates are putting a brake on credit creation and economic growth.

LONDON, Aug 1 (Reuters) – Manufacturing activity across the euro zone contracted in July at the fastest pace since COVID-19 was cementing its grip on the world as demand slumped despite factories cutting their prices sharply, a survey showed on Tuesday.