Core inflation soared to a record high in the eurozone in January, as the bloc’s energy crisis continues. The euro bloc is currently facing the worst energy crisis in decades, after the Russia–Ukraine war caused gas and oil prices to soar. Last month, Europe’s consumer price index showed inflation in the euro bloc hitting a…
Core Inflation Soars to Record High in Eurozone
February 24, 2023
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Eurozone Business Growth at 9-month High as Services Supports: Flash PMI
LONDON—Surprisingly strong services growth meant the recovery in eurozone business activity gathered steam this month, expanding much faster than thought, according to a survey on Tuesday, the latest evidence the currency union could escape a recession. A sister survey showed businesses in Britain reporting an unexpected bounce in activity as well as receding price pressures,…
Eurozone Factories Are Likely Over the Worst: PMI
LONDON—The downturn in eurozone manufacturing activity eased again last month suggesting the worst may be over, according to a survey that showed price pressures slackened and the fall in demand moderated, driving a surge in optimism. S&P Global’s final manufacturing Purchasing Managers’ Index (PMI) climbed to a five-month high of 48.8 in January from December’s…
Eurozone Economy Unexpectedly Grows in 4th Quarter but Weak 2023 Looms
FRANKFURT—The eurozone eked out growth in the final three months of 2022, managing to avoid a recession even as sky-high energy costs, waning confidence, and rising interest rates took a toll on the economy that is likely to persist into this year. Gross domestic product across the currency bloc expanded by a tiny 0.1 percent…
Eurozone Business Activity Back to Growth in January: PMI
LONDON—Eurozone business activity made a surprise return to modest growth in January, adding to signs the downturn in the bloc may not be as deep as feared and that the currency union may escape recession, a survey showed. S&P Global’s flash Composite Purchasing Managers’ Index (PMI), seen as a good gauge of overall economic health,…
Europe’s Inflation Slows Again but Cost of Living Still High
LONDON—Europe ended a bad year for inflation with some relief as price gains eased again. While the cost of living is still painfully high, the slowdown is a sign that the worst might be over for weary consumers. The consumer price index for the 19 countries that used the euro currency rose 9.2 percent in…
Darkest Days Likely Over for Eurozone Factories, December PMIs Show
LONDON—The downturn in eurozone manufacturing activity has likely passed its trough as supply chains begin to recover and inflationary pressures ease, a survey showed on Monday, leading to a rebound in optimism among factory managers. S&P Global’s final manufacturing Purchasing Managers’ Index (PMI) bounced to 47.8 in December from November’s 47.1, matching a preliminary reading…
Eurozone Business Activity Falls at Slower Rate in December, Inflation Eases: PMI
BENGALURU—Eurozone business activity shrank at the slowest pace in four months in December, suggesting a likely recession ahead will be shallower than previously thought, a survey showed on Friday, while prices rose at the most modest rate in about a year. S&P Global’s flash Composite Purchasing Managers’ Index (PMI), seen as a good gauge of…
ECB Slows Rate Hikes but Pledges Continued Inflation Fight
December 15, 2022
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FRANKFURT—The European Central Bank raised interest rates for the fourth time in a row on Thursday, although by less than at its last two meetings, pledged further hikes and laid out plans to drain cash from the financial system as part of its fight against runaway inflation. The ECB has been raising rates at an…
ECB Survey Shows Rising Inflation Expectations for Year Ahead
December 7, 2022
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FRANKFURT—Eurozone consumer expectations for inflation in the year ahead rose in October but predictions for three years out held steady at a rate still well above the European Central Bank’s 2 percent target, the ECB said in a monthly survey on Wednesday. Inflation soared this year on sky high energy and food prices, and the…
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