Source: IHS Markit The Eurozone recorded the fastest expansion in business activity since June 2006, with the component index up to 60.4 in July, from 58.3 in June. DAX is up +0.64%, EURUSD is down -0.13%. The Composite Output Index rose to 60.2 in July, from 59.5 in June, slightly below a preliminary “flash” estimate of 60.6, and marked the fifth consecutive month of … [Read more...] about Eurozone Records the Fastest Expansion in Business Activity in Over 15 Years
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ECB Unanimous on Stimulus Need, But Yet to Agree on Extent
European Central Bank’s Governing Council differed on how much additional monetary stimulus was needed in last month’s meeting, according to Bloomberg. The council, nonetheless, agreed more aid was needed to preserve favorable financing conditions. Policymakers argued for smaller and larger increases in the pandemic bond-buying program and disputed the extent of loosening … [Read more...] about ECB Unanimous on Stimulus Need, But Yet to Agree on Extent
Eurozone Economic Rebound Beats Estimates in December, Remains in Contraction
Eurozone’s IHS Markit’s flash composite PMI was 49.8 in December, up from November’s 45.3, and above expected 45.8, reports Reuters. The economic rebound reflects the partial lifting of restrictions in countries like France, although it remained below the 50 mark that separates growth from contraction. The service industry rose to 47.3, up from 41.7 to remain above … [Read more...] about Eurozone Economic Rebound Beats Estimates in December, Remains in Contraction
Industrial Production in Euro Area and EU Rises, Remains Below October 2019 Level
October 2020 industrial production rose by 2.1% in the euro area and 1.9% in the EU, according to Eurostat press release. The industrial production increase was higher than the September 2020 growth of 0.1% in the euro area and 0.3% in the EU. In October 2020, compared with October 2019, industrial production fell by 3.8% in the euro area and by 3.1% in the EU. In … [Read more...] about Industrial Production in Euro Area and EU Rises, Remains Below October 2019 Level
Consumer Spending and Exports Surge Drive Eurozone Growth to Record High
Gross domestic product in the 19-country Eurozone bloc rose by 12.5% in the July-September period from the previous quarter, the largest increase since 1995, according to Reuters. The summer surge in output was driven by domestic consumption and exports as shops and factories reopened after lockdowns. The July-September output was a slight downward revision from the … [Read more...] about Consumer Spending and Exports Surge Drive Eurozone Growth to Record High
