euro zone stays on growth road hitting occasional bump
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Euro zone stays on growth road, hitting occasional bump

Arab Today, arab today

Arab Today, arab today Euro zone stays on growth road, hitting occasional bump

Surveys of purchasing managers’ plans in the euro zone
London - Arab Today

Evidence built on Friday that the sturdy improvement in euro zone economic growth touted by the European Central Bank (ECB) is in place — albeit with some wobbles.
Cruising speed, not acceleration, Morgan Stanley economists said.
Surveys of purchasing managers’ plans in the euro zone, Germany and France all indicated steady growth, if not perhaps as much as some economists had expected.
The broadest of the managers’ surveys — IHS Markit’s June flash composite purchasing managers index (PMI) for the euro zone — dipped to 55.7 from 56.8 in May. This was lower than anyone in a Reuters economists’ poll had predicted but still way above 50, the level Markit says divides expansion from contraction.
“Businesses experienced the strongest quarter in six years,” Bert Colijn, ING senior economist for the euro zone, said in a note. “With just a week to go in this quarter, all signs are pointing toward a strong (growth) reading.”
At the country level, the most significant development may have been France’s manufacturing PMI, which rose far more than expected to 55, rising back after a dip in May possibly because the political risks around the presidential and legislative elections have gone.
Companies also took on workers at the fastest pace in nearly 10 years, a sub-index showed, giving France’s new president, Emmanuel Macron, an early economic present.
Overall, however, the PMIs showed something of a tailing off of activity — primarily in services — even if that was within the context of expansion.
Germany’s composite index, for example, was down 1.3 points — from a six-year high — to a still solid 56.1.
The business data came on the heels of Thursday’s buoyant euro zone consumer sentiment report.
Here again, the news was relative. The actual number was minus 1.3 points, meaning that sentiment is negative. But that is usually the case with the euro zone, so the fact that there was a jump from -3.3 points in May to the highest level in 16 years was seen as a bullish sign.
“It all points to labor market wage growth and private consumption,” Berenberg economist Florian Hense said.
Other data on Friday, however, showed that the euro zone economy is not without its risks. Italy, the currency bloc’s third-largest economy, reported a sharp fall in industrial sales and orders in April.
The data, which matched industrial output figures released earlier in the month showing a surprise decline, suggests a poor start to the second quarter after 0.4 percent growth in the first.
Considered by many economists to be the weak link in the euro zone revival, Italy is facing an election next year at the latest, where the anti-euro, anti-establishment 5-Star Movement is currently seen making gains.
The International Monetary Fund (IMF) projects Italy’s economy to grow 1.3 percent this year because of the general euro zone growth picture but to slow next year.
“Weak productivity and low aggregate investment remain key challenges for faster growth, held back by structural weaknesses, high public debt, and impaired bank balance sheets,” the IMF said this month in its latest report.

Source: Arab News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

euro zone stays on growth road hitting occasional bump euro zone stays on growth road hitting occasional bump

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

euro zone stays on growth road hitting occasional bump euro zone stays on growth road hitting occasional bump

 



GMT 06:49 2012 Saturday ,01 September

Lamitta Frangieh on her \'Facebook Romance\'

GMT 08:26 2017 Wednesday ,08 February

Qatar spending $500m a week on World Cup projects

GMT 17:00 2017 Tuesday ,27 June

Saudi Arabia rebuts fake news on Turkey, Israel

GMT 10:31 2016 Monday ,12 December

Second Sydney airport cleared for take off

GMT 05:27 2017 Sunday ,16 April

GIB Capital wins 4 EMEA Finance Awards

GMT 13:58 2016 Friday ,30 December

Australia beat Pakistan to win Test series

GMT 10:07 2017 Monday ,17 April

Mark Hamill would like to play George Lucas

GMT 12:10 2016 Tuesday ,13 December

Over 30 dead as Kenya tanker crashes, explodes

GMT 02:13 2017 Monday ,25 September

December22nd-January20th

GMT 15:39 2017 Tuesday ,03 October

Bangladesh rescues 20 Rohingya held by racket gang

GMT 02:51 2017 Friday ,10 November

Under siege, Syria doctors forced to improvise care

GMT 12:18 2015 Tuesday ,14 July

Russia sack Capello as national team coach

GMT 16:07 2017 Saturday ,26 August

ISIS Claims Attack on Shiite Mosque in Afghanistan

GMT 13:47 2017 Monday ,27 February

China blue chips post worst day in 2 months

GMT 02:56 2017 Tuesday ,25 July

President Jokowi performs Eid Prayers in Padang

GMT 16:21 2017 Tuesday ,03 October

Sisi greets Guinea on independence anniversary

GMT 04:18 2017 Saturday ,16 September

Kim and Kanye expecting third baby via surrogate
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday