The S&P Global Eurozone Manufacturing PMI contracted to 49.8 in July of 2022 from 52.1 in June, pointing to the slowest growth in factory activity since June of 2020. This is the recession we have expected.
Economics
Eurostat: EU current account deficit €37.4 bn, minus €141 bn year on year
In the second quarter of 2022, the EU seasonally adjusted current account of the balance of payments recorded a deficit of €37.4 billion (–1.0% of GDP), down from a surplus of €8.8 billion (0.2% of […]
Economics
Bill Mitchell: ECB estimates suggest meeting current challenges will be impossible within fiscal rule space
While the ECB paper does not exactly state the obvious the meaning is clear – even to get within a ballpark of what is required will require substantial austerity being imposed on areas of expenditure […]
Economics
Eurostat: Business investment decreases to 23.2% in the euro area
The EU’s V-Recovery is unstoppable! The business investment rate in the euro area decreased to 23.2%, compared with 25.3% in the first quarter of 2020, reflecting the decrease of the gross fixed capital formation by […]
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