HomeInvestmentEurope Heads for Stagflation - WSJ

Europe Heads for Stagflation – WSJ

The bad news keeps coming for Europe’s economy, and if you’re in America resist the temptation to gloat. Data released Tuesday suggest that the eurozone is in a recession or soon will be, and the timing couldn’t be worse for the bloc of American allies and trading partners.

The composite purchasing managers’ index (PMI) released by S&P Global came in at 49.2, down from 49.9 the month before. Anything below 50 signifies a decline, so business activity has been falling for two months, and now is at an 18-month low. Service firms registered a barely expansionary 50.2, the lowest in 17 months, and manufacturing output at 46.5 is in recession territory despite some recent improvement.

Source link



Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments