Home/Newsfeed

Euro Zone Stuck in ‘Low-Growth Phase’ as Business Activity Falls to 16-Month Low

Share Print 0

There was more gloom for the euro zone on Monday with the latest flash purchasing manager’s index (PMI) falling to a 16-month low despite attempts by the European Central Bank (ECB) to boost growth and business activity in the region.

The preliminary PMI from Markit showed that business activity in the 19-country region fell to 52.9 in May versus 53.0 in April, failing to meet expectations for a reading of 53.2, according to a Reuters poll of analysts.

The PMI is a composite of services and manufacturing activity in the region and the 50-point mark separates expansion from contraction.

The latest PMIs suggest that economic growth has likely slowed in the euro zone in the second quarter and that business activity was likely to remain subdued, Markit said.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.

Craig Erlam

Craig Erlam

Former Senior Market Analyst, UK & EMEA at OANDA
Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary.

His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News.

Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.
, , ,
Back to Top