Eurozone Economic Outlook
August 27, 2019Preliminary estimates revealed that growth halved in the second quarter, returning to the slow pace seen in the last half of 2018. Although a breakdown by drivers is not yet available, a persistently weak industrial sector, downbeat confidence and a worsening global backdrop likely dented momentum. Early data for the third quarter has continued to underwhelm. Economic sentiment fell to a near three-year low in July and the composite PMI also dropped. Moreover, the PMI continued to point to a two-speed economy, with the services sector growing briskly while manufacturing activity remained weak; however, concerns of spillover are growing. Meanwhile, the economic environment remains bleak amid concerns over trade wars, Brexit and political turmoil in Italy. Against this backdrop and considering modest inflation, the ECB is expected to unveil a broad stimulus package at its September meeting to boost the outlook.
Eurozone Economic GrowthGrowth is seen slowing sharply this year due to lingering weakness in the industrial sector, a less favorable global backdrop and as geopolitical concerns hamper investment and exports. Risks to the outlook remain elevated and include rising global protectionism, slower-than-expected growth in China, a hard Brexit and other political concerns. Growth is seen at 1.1% in 2019, which is unchanged from last month’s forecast, and 1.2% in 2020.
Eurozone Economy Data
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|Exchange Rate||1.10||0.65 %||Sep 04|
|Stock Market||1,175||-0.52 %||Sep 04|
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Eurozone Economic News
September 18, 2019
Complete data confirmed harmonized inflation was unchanged at July’s 1.0% in August, matching the preliminary estimate of and marking the lowest reading since November 2016.
September 12, 2019
The European Central Bank (ECB) unveiled a broad package of stimulus at its meeting on 12 September, in order to revive growth and inflation in the downbeat Eurozone economy.
September 6, 2019
A third estimate confirmed that the Eurozone economy lost traction in the second quarter, suppressed by a weaker performance from both the domestic and external sides of the economy.
August 30, 2019
Labor market conditions in the common currency bloc were broadly stable in July, according to data released by Eurostat.
August 30, 2019
According to a preliminary estimate released by Eurostat on 30 August, harmonized inflation was unchanged at July’s 1.0% in August.