Euro zone business activity remained lacklustre at the start of the year, a surv...
LONDON - Euro zone business activity remained lacklustre at the start of the year, a survey showed a day after the European Central Bank said the manufacturing sector remained a drag on the economy, but there were some glimmers of hope for policymakers.
Still, the slowdown in euro zone economic activity has probably bottomed out, according to a Reuters poll last week, which showed while the outlook for growth and inflation remained lukewarm the chances of a recession have faded. [ECILT/EU] An earlier PMI from Germany, Europe’s largest economy, showed the private sector gained momentum as growth in services activity picked up and the pullback in manufacturing eased.
The euro zone’s headline index was bogged down by a still struggling factory industry. The manufacturing PMI marked the 12th month below the break-even mark, registering 47.8 - albeit an improvement on December’s 46.3 and well above the Reuters poll’s 46.8. “With manufacturing showing early signs of recovery and the service sector continuing to grow, chances of a recession are receding further,” said Bert Colijn at ING.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Euro near seven-week lows before PMI data releaseThe euro held near seven-week lows on Friday after the European Central Bank str...
Read more »
Underperforming Euro auto shares reflect fear of new front in U.S. trade warsEuphoric stock markets celebrated the China-U.S. trade truce by marking record h...
Read more »
Global stocks steady as caution on China virus continues; euro hits seven-week low after ECBStocks made a barely positive start in early Asian trade on Friday after the wor...
Read more »
Euro near seven-week low after ECB; virus fears support yenThe euro hovered near a seven-week low against the dollar on Friday after the Eu...
Read more »
Euro near seven-week low after ECB; China virus worries lingerThe euro hovered near a seven-week low against the dollar on Friday after the Eu...
Read more »
Europe Remains a Weak Spot for the Global EconomySigns of continued sluggishness in Europe will dent hopes that the global economy will stage a modest rebound this year as some of the uncertainties around the rules governing global trade lift.
Read more »