Eurozone output contraction extended into the fifth month after a key index released November data, although the pace of decline eased from October, indicating some tough times ahead for the continent’s economies. “A fifth consecutive monthly falling output signaled by the PMI [Purchasing Managers’ Index] adds to the likelihood that the eurozone is sliding into…
Eurozone Downturn Continues Into Fifth Month, Points to Winter Recession: PMI
Eurozone Inflation Falls for First Time in 17 Months,Yet Remains Still High at 10 Percent
Annual inflation in the eurozone is expected to fall in November, according to a flash estimate by Eurostat, the statistical office of the European Union. Twelve-month inflation for November 2022 is projected to be at 10 percent, down from the 10.6 percent in October, according to an agency news release on Nov. 22. This is the…
ECB’s Lagarde Says Inflation Hasn’t Peaked, May Surprise
FRANKFURT—Eurozone inflation has not peaked and it risks turning out even higher than currently expected, European Central Bank President Christine Lagarde said on Monday, hinting at a series of interest rate hikes ahead. Her comments, along with remarks by Dutch central bank chief Klaas Knot earlier, were likely to dampen speculation that the ECB was…
Easing Eurozone Downturn Offers Hope of Milder Recession
LONDON—The downturn in eurozone business activity eased slightly in November offering a glimmer of hope the expected recession may be shallower than feared, but consumers still cut spending amid a cost of living crisis, a survey showed on Wednesday. There has been mounting evidence the bloc is entering a recession and in a Reuters poll…
ECB Must Keep Raising Rates Even If Recession Risks Rise, Lagarde Says
FRANKFURT—The European Central Bank must keep raising interest rates to fight off inflation, even if the probability of a eurozone recession has increased, ECB President Christine Lagarde said in an interview published on Tuesday. “Our mandate is price stability and we have to deliver on that using all the tools we have available,” Lagarde told…
Inflation in the Eurozone Hits 10.7 Percent as Growth Sharply Declines
November 1, 2022
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Eurozone inflation rose above 10 percent this month as economies across the 19-nation bloc begin to slow. Rising prices throughout the continent have put immense pressure on countries throughout the region. Preliminary data from the European Union’s statistics agency showed inflation hitting an annual rate of 10.7 percent for October, for the highest monthly reading…
ECB Raises Interest Rates Again, Trims Bank Subsidies
FRANKFURT—The European Central Bank raised interest rates again on Thursday and signaled it was keen to start shrinking its bloated balance sheet, taking another big step in tightening policy to fight off a historic surge in inflation. Worried that rapid price growth is becoming entrenched, the ECB is raising borrowing costs at the fastest pace…
Eurozone Investor Morale Drops for 3rd Month: Sentix
October 10, 2022
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BERLIN—Investor morale in the eurozone slid for the third consecutive month in October to its lowest level since May 2020 signaling a deep recession for the 19-country currency bloc, a survey showed Monday. Sentix’s index for the eurozone tumbled to—38.3 points in October from—31.8 in September, below expectations of analysts polled by Reuters for a…
Eurozone Retail Sales Fall as Expected in August
BRUSSELS—Eurozone retail sales fell in August, data showed on Thursday, pointing to a weakness in consumer demand and underlining expectations of an approaching recession. The European Union’s statistics office Eurostat said retail sales in the 19 countries sharing the euro fell 0.3 percent month-on-month for a 2.0 percent year-on-year drop. Economists polled by Reuters had…
Eurozone Likely to Endure Recession as Downturn Deepens
LONDON—The drop in eurozone business activity deepened last month, a survey showed, probably extinguishing any hope the currency union would avoid recession just as elevated inflation puts pressure on the European Central Bank to act. Businesses and consumers are wary of spending as the region heads into the winter months with already high energy prices…
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