News
Analysis
7x24
Quotes
Economic Calendar
Data
- Names
- Latest
- Prev.
Columns
Trending Topics
Daily News
To quickly learn market dynamics and follow market focuses in 15 min.
Central Bank
Inflation, exchange rates, and the economy shape the policy decisions of central banks; the attitudes and words of central bank officials also influence the actions of market traders.
Traders' Opinions
View trading ideas and learn trading strategies.
Forex
Money makes the world go round and currency is a permanent commodity. The forex market is full of surprises and expectations.
Recent Searches
Trending Searches
View All
No data
Eurozone PMI Suggests the Region May Already Be in Recession
Summary:
The third decline in a row for the eurozone PMI indicates that business activity has been contracting throughout the quarter.
The third quarter clearly marks a turning point for the eurozone economy. After a strong rebound from contractions caused by the pandemic, the economy is now becoming more severely affected by high inflation both at the consumer and producer level. Led by Germany, which saw its composite PMI drop to 45.9 in September, the eurozone saw its composite PMI fall to 48.2. Both services and manufacturing output are well below 50 at 48.9 and 46.2, respectively, signalling broad-based contracting business activity.
The manufacturing sector is bearing the brunt of the problems. Supply chain problems still disturb production, but weaker global demand has caused backlogs of work to fall as new orders are decreasing quickly. Incidental production stoppages due to high energy costs are also adding to declining production in the sector.
But with the tourism season behind us, there are few opportunities left for any marked catch-up effects in the eurozone economy. That has pushed the services PMI deeper into negative territory as consumers are starting to become more cautious in spending as energy bills rise across the monetary union. Overall, the view of a eurozone economy moving into recession seems confirmed by the gloomy September PMI survey.
The surge in gas and electricity prices in August is now leading to further price pressures emerging for businesses in September, even though other costs have been moderating due to weakening global demand. This confirms the stagflationary environment that the eurozone is currently in. The ECB has made clear that it will continue to hike in a determined manner for the short-run, as it tries to battle stubbornly high inflation. A 75 basis point hike in October is therefore definitely on the table, despite a weakening economy.
Source: ING
Risk Warnings and Investment Disclaimers
You understand and acknowledge that there is a high degree of risk involved in trading with strategies. Following any strategies or investment methodologies is the potential for loss. The content on the site is being provided by our contributors and analysts for information purposes only. You alone are solely responsible for determining whether any trading assets, or securities, or strategy, or any other product is suitable for you based on your investment objectives and financial situation.
Quick access to 7x24
Quick access to more editor-selected real-time news
Exclusive video for free
FastBull project team is dedicated to create exclusive videos
Follow more assets
You can add more assets to your watchlist to follow more real-time quotes.
More comprehensive macro data and economic indicators
More comprehensive historical data on indicators to help analyze macro markets
Member-only Database
Comprehensive forex, commodity, and equity market data
- Economic Calendar
- Events
- Holiday
BANKS ACT (%) PREV (%) CPI (%)
SYMBOL
LONG SHORT
English
English
العربية
繁體中文
简体中文
Bahasa Melayu
Bahasa Indonesia
ภาษาไทย
Tiếng Việt
Copyright © 2023 FastBull Ltd
Home News AI Signals Analysis Columns 7x24 Economic Calendar QuotesData WarehousePro User Agreement Privacy Policy About Us
Risk Disclosure
The risk of loss in trading financial assets such as stocks, FX, commodities, futures, bonds, ETFs or crypto can be substantial. You may sustain a total loss of the funds that you deposit with your broker. Therefore, you should carefully consider whether such trading is suitable for you in light of your circumstances and financial resources.
No consideration to invest should be made without thoroughly conduct your own due diligence, or consult with your financial advisors. Our web content might not suit you, since we have not known your financial condition and investment needs. It is possible that our financial information might have latency or contains inaccuracy, so you should be fully responsible for any of your transactions and investment decisions. The company will not be responsible for your capital lost.
Without getting the permission from the website, you are not allow to copy the website graphics, texts, or trade marks. Intellectual property rights in the content or data incorporated into this website belongs to its providers and exchange merchants.