• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
  • Best Managed Accounts
  • Forex Robots
  • Forex Brokers
  • Forex Signals
  • Social Trading Platforms

Forex Traders Guide

The Ultimate Forex Knowledge Base

  • Robots
  • Start Guide
  • Glossary
  • Basics
    • Currency Pairs
    • Charts
    • Candlesticks
    • Trading Tips
  • Strategies
    • Technical Analysis
    • Fundamental Analysis
    • Day Trading
    • Scalping
    • Swing Trading
    • Trend Following
  • News
  • Reviews
    • Forex Robots
    • Forex Brokers
  • Mustreads
  • Crypto Trading

Eurozone Economy Experiences Record Drop in Early 2021

January 22, 2021 by Forex Winner Leave a Comment

Eurozone Economy Experiences Record Drop in Early 2021

The flash Composite PMI for Eurozone fell from 49.1 in December to 47.5 in January, a third successive monthly decline, according to the IHS Markit press release. January’s PMI signals slowdowns in business activity and the steepest deterioration since November on fresh lockdowns amidst the new coronavirus strain.

Eurozone Economy Experiences Record Drop in Early 2021
  • Flash Services PMI fell to 45.0 in January, down from 46.4 in December, a 2-month low.
  • Flash Manufacturing PMI Output Index was 54.5, down from 56.3 in December, a 7-month low.
  • Flash Eurozone Manufacturing PMI was 54.7 in January, down from 55.2 in December, a 2-month low.
  • Factory output growth weakened to the slowest since the recovery began while the service sector saw output fall at the second-fastest rate since May.
  • Business activity growth in Germany declined to the slowest since the recovery began in July
  • The flash composite PMI for France fell from 49.5 in December to 47.0 in January, while the index for Germany slipped from 52.0 to 50.8.
  • With the slowdowns in business activity in the eurozone, IHS Markit chief business economist Chris Williamson says a double-dip recession is “increasingly inevitable.”
  • In addition to the new COVID-19 variants, there are also concerns about slow vaccination roll-outs in the European Union. 
  • European Central Bank (ECB) president Christine Lagarde acknowledged that the pandemic still posed “serious risks” to the Eurozone economy.
  • ECB expects Eurozone’s gross domestic product (GDP) to expand by 3.9% in 2021 and 2.1% in 2022, after contracting 7.3% last year, but growth will depend on the evolution of the pandemic. 

European stocks are currently declining as the Euro gains. DAX is down 0.62%, EURUSD is up 0.11%.

Best Forex Robots ›

Compare leading trading systems on the market

Filed Under: Forex News

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Best Forex Robots

  1. Techberry 8.7
  2. Happy Forex 8.0
  3. Forex Fury 7.7
  4. Promax Gold EA 6.8
  5. Gump EA 6.4

Best Forex Brokers

  1. Techberry 8.7
  2. XM 8.2
  3. eToro 8.1
  4. Pepperstone 8.1
  5. IG 8.0

Latest News

Mexico’s Inflation Eases in September

September 22, 2023

The Potential Government Shutdown: Should Investors Be Concerned?

September 21, 2023

Investor Interest in Arm Holdings PLC Dips After Strong Debut

September 19, 2023

Footer

Forex Broker Reviews

IQ Option Review

IQ Option Review

April 25, 2019 By Forex Winner

europefx

EuropeFX Review

December 26, 2019 By Forex Winner

E-Trade

E-Trade Review

October 23, 2019 By Forex Winner

Forex Robot Reviews

Earn2Trade Review

August 20, 2023 By Andre

FundedNext Review

August 16, 2023 By Andre

Topstep Forex Review

August 14, 2023 By Andre

EMAIL NEWSLETTER

Sign up to receive exclusive forex trading guides and insights from our team of experts!

Copyright © 2023 · Forex Traders Guide · About Us · Contact Us
Privacy Policy · Risk Disclosure