Europe in crisis
The commercial activity of the euro zone barely grew in October because demand declined, according to a survey published on Thursday, which will be a disappointing read for the outgoing president of the European Central Bank, Mario Draghi.
In September, the ECB entered its type of deposits even further into negative territory and said it would resume its bond purchase program indefinitely to reduce loan costs and stimulate investment and growth in the euro zone.
However, provisional indices prepared from surveys of company executives in October suggest that these measures have not yet influenced the private sector.
The interim PMI index composed of IHS Markit, which is considered a good barometer of economic health, stood at 50.2, just above the final reading of September (50.1), which was the lowest data in more than six years, but still dangerously close to the threshold of 50, which separates the growth of the contraction, and below the expectations of the analysts, who according to a Reuters poll predicted a figure of 50.3.
“The euro zone economy began in the fourth quarter near the stagnation, and the provisional PMI points to a quarterly GDP growth rate of just under 0.1%,” said Chris Williamson, chief economist of business analysis at IHS Markit .
“The survey indicates that Mario Draghi’s mandate at the head of the ECB ends with an almost stagnant GDP, a slowdown in employment, almost stagnant prices and a growing pessimism about the outlook.”
Europe manufacturing PMI shows the deep crisis in old Europe. Today the data corresponding to Europe manufacturing PMI has been Read more
Today the Markit composite PMI data has been published in the euro zone, the 50.6 data is better than expected Read more
There have been other pandemics apart from COVID-19. I am very critical with the management of the current COVID-19 pandemic, Read more
Interventional Europe takes pseudo-fascist measures with the excuse of the coronavirus. Interventional Europe, which believes that it is necessary to Read more
The EU decides to control 5G networks providers. Brussels today asked the EU Member States to restrict or prohibit Read more
US takes advantage of Davos to threaten Europe if the digital rate is approved. The US has taken advantage of Read more
$2.4 Trillion Stimulus Package Proposed in US With Second Direct Payments to Americans. The markets start October with gains, supported Read more
The ECB could allow inflation to go above target. The president of the European Central Bank (ECB), Christine Lagarde, has Read more