(updated) Eurozone

[DrLeftover]

Activity in the eurozone's services and manufacturing sectors continued to fall in April, a survey has indicated, with even German output declining.

Markit's composite purchasing managers' index (PMI) for the eurozone remained at 46.5 in April, unchanged from the month before.

A reading below 50 indicates shrinking activity.

The survey suggested that German private sector output fell for the first time since November last year.

http://www.bbc.co.uk/news/business-22265415


everybody sing.... "every thing's coming up roses...."

 

[Evil Eye]

RE: Eurozone output still falling

That would probably work.

 

[DrLeftover]

RE: Eurozone output still falling

20 August 2013

At last there are signs of economic life in the eurozone, as technically it comes out of recession. But it would be a mistake to put these ‘green shoots’ down to austerity policies or to underestimate the economic and political challenges that still lie ahead

Finally good news from the eurozone. According to recent Eurostat estimates the combined economy of this troubled region grew by 0.3 per cent in the second quarter of 2013 after shrinking for six subsequent quarters in a row. But closer inspections show that the region is still facing deep problems. A sustainable improvement depends crucially on the political ability of policy makers to implement bold institutional reforms and revive the region fast.

So has the eurozone overcome the recession? In technical terms the answer is yes (recessions are commonly defined as two subsequent quarters of shrinking GDP). However in economic terms, the eurozone economy is weaker than ever since the start of the crisis. If we look at the annualised performance rather than just at the last quarter, the same data source reports a still shrinking eurozone economy (0.7 per cent).

http://opinion.publicfinanceinternational.org/2013/08/eurozone-first-the-good-news/