Eurozone growth stutters as French output threatened by oil price risks June 23, 2014 Preliminary survey data shows that the Eurozone's (still) fledgling recovery has stuttered in June. Purchasing managers' index (PMI) data released by Markit shows that the pace of expansion across the private sector has slowed a little, with a headline PMI of 52.8 in the euro area. Any number above 50 implies that order books are [...]
Lithuania gets green light to join the Eurozone in 2015 June 20, 2014 Lithuania will become the 19th member of the Eurozone on 1 January 2015 after EU finance ministers gave the Baltic state the official go-ahead to join the currency. The announcement, which followed a recommendation by the European Commission a few weeks ago confirming that Lithuania fulfils all the criteria to join the common currency, leaves [...]
Eurozone bond yields dip to lowest levels in history June 9, 2014 THE COST of servicing the Spanish government’s 10-year bonds dropped below the US government’s equivalent during trading yesterday, illustrating the dramatic turnaround for Eurozone sovereign debt – yet also reflecting fears that deflation could haunt the Eurozone. Both of the countries’ bonds were yielding just above 2.6 per cent during the day. The Spanish yield [...]
The European Central Bank just unveiled its plan to save the Eurozone. Here’s what you need to know June 5, 2014 Two years after his oft-repeated "whatever it takes" speech, European Central Bank (ECB) president Mario Draghi has finally pulled the trigger. Digging deep into the central bank's arsenal, Draghi has picked out the weapons deemed most suitable to what is now moving from a disinflationary crisis to what could be a deflationary one. Inflation in [...]
Eurozone inflation is even weaker than we expected and it’s got the ECB scared June 3, 2014 Today brings the week's most important data point. Annual Eurozone inflation is in – and it's even weaker than economists had forecast. Prices rose by just 0.5 per cent in the year to May, according to Eurostat's flash estimate, far weaker than the 0.6 expected and the 0.7 per cent CPI reported in the year [...]
Eurozone consumer confidence rises in May May 28, 2014 Confidence in the Eurozone economy is on the rise. The European Commission's consumer confidence index rose to -7.1 in May, from -8.6 last month. Consumer confidence is now at its highest point since October 2007. Analysts had expected the improvement to -7.1. Eurozone business confidence was also up, to 0.37 from 0.30 in April. The [...]
Weak exports could hit chance of recovery in troubled Eurozone May 21, 2014 THE EUROZONE’S weak economic recovery was thrown further off track yesterday as new numbers showed exports were weaker than expected in March. Its current account surplus with the rest of the world was squeezed in the month, falling to €18.8bn (£15.2bn) from €21.8bn a month earlier. “The March decline is partly due to trade on goods [...]
The global recovery is gathering pace – but Eurozone doubts remain May 20, 2014 WORRIES are growing about some Eurozone countries slipping back into double dip recession. By convention, a recession is when national output (GDP) has fallen for two successive quarters. But this is far from being news. In a substantial number of economies, output is lower than it was not just two quarters ago, but three whole [...]
Eurozone’s painfully slow recovery continues at half the speed analysts expected May 15, 2014 Painful figures for the Eurozone. The currency bloc has seen GDP growth of just 0.2 per cent in the first quarter of this year, according to estimates from Eurostat. That's well below the 0.4 per cent economists had forecast. Ishaq Siddiq, chief market strategist at ETX Capital, says that the figures are more "fuel to [...]
Eurozone deficits shrinking but public debt continues to mount April 23, 2014 PUBLIC deficits in the Eurozone fell to three per cent of GDP in 2013, hitting the level that individual member states must aim for under the bloc’s rules. Official figures released yesterday show that on average, the countries’ deficits dropped from 3.7 per cent of GDP in 2012, while total public debt rose to the [...]