David Cameron’s “red warning lights” over global economy: Five charts that sum up the Eurozone’s latest crisis November 17, 2014 Prime Minister David Cameron has warned of "red warning lights" flashing on the "dashboard of the global economy", following this weekend's G20 summit in Brisbane. That's particularly true of the Eurozone, which only narrowly avoided a triple-dip recession according to GDP figures published on Friday, which showed growth of 0.2 per cent in the third [...]
Small factories suffer from fall in demand from Eurozone buyers November 16, 2014 Britain’s manufacturers are being propped up by strong domestic demand, as orders from the troubled Eurozone drop sharply, the Confederation of British Industry (CBI) said today. The proportion of small- and mid-sized firms reporting rising output outweighed those reporting a fall by a margin of nine per cent – down from 15 per cent three [...]
Eurozone economy beats expectations posting 0.2 per cent growth for the third quarter November 14, 2014 The eurozone economy grew 0.2 per cent in the third quarter, according to official figures published by Eurostat, beating expectations of 0.1 per cent growth. The figure should help calm fears the single-currency bloc could be entering into another recession. Investors have been increasingly worried by a swathe of poor data coming out of the [...]
GDP estimates: Germany avoids recession while France surprises calming Eurozone fears November 14, 2014 Germany has avoided sliding into recession, as the economy grew 0.1 per cent in the third quarter, while France reported surprise growth of 0.3 per cent ahead of expectations. The latest GDP estimates calm fears over the stagnating Eurozone economy and reverse the previous quarter’s trend when the German economy shrank and France became stagnant. [...]
Eurozone PMI: Contraction in French services raises fears of third recession November 5, 2014 France continues to earn its title of the “sick man of Europe” with its service sector showing signs of contracting. The services purchasing managers’ index (PMI) – a survey of firms in the service sector – registered 48.3 for France in October, according to figures released yesterday by Markit. A score below 50 signals contraction. [...]
European Commission slashes 2015 eurozone growth forecast to 1.1 per cent November 4, 2014 The European Commission (EC) has cut its 2015 growth forecast for the eurozone from 1.7 per cent to 1.1 per cent, citing a slowdown in market activity, as well as the threat from rising tensions in Ukraine and a lack of investment. It added that growth in the bloc this year is expected to reach [...]
Eurozone manufacturing: UK outstrips Europe in the battle of the PMIs November 3, 2014 Manufacturing data published this morning confirmed what many already suspected: manufacturing activity in the UK is outstripping the Eurozone and has opened an economic gap on China. For October, the Eurozone’s manufacturing purchasing managers’ index (PMI) was at 50.6, while China’s was at 50.4. Both a hair’s breadth from the 50 point mark that separates [...]
UK business confidence hit by general election and Eurozone worry November 3, 2014 Uncertainty surrounding the outcome of the general election, the threat of a skills shortage, and a weak Eurozone has hit UK business confidence – but it is still high by historic standards. A confidence index produced by the Institute of Chartered Accountants in England and Wales (ICAEW) fell to 28.6 for the fourth quarter of [...]
ECB council member Ewald Nowotny: We cannot rule out quantitative easing in the Eurozone October 31, 2014 We cannot rule out quantitative easing in the Eurozone: that was the message European Central Bank governing council member Ewald Nowotny gave CNBC today. "I think that we have all learned in life that we should never say 'never',” Nowotny told the channel. Nowotny is generally considered a hawk, preferring the austere German methods of [...]
Eurozone unemployment stays flat at 11.5 per cent October 31, 2014 It is a reflection of the economic times that a flat unemployment figure inspires a sense of relief, but today analysts breathed a sigh of relief as EU unemployment remained stable at 11.5 per cent in September. Although it was the fourth consecutive month the rate had stayed the same, the total number of unemployed [...]