Sunday November 23, 2014 Search
Weather | Athens
18o C
10o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Eurozone manufacturing growth eases slightly

Eurozone manufacturing growth eased slightly more than previously thought last month and factories fulfilled existing orders to keep busy, a business survey showed on Tuesday.

A resurgence in the blocs periphery countries supported Germany, which was again the driving force, despite slower growth due to extra public holidays. But in France - the blocs second-biggest economy - the contraction in activity deepened.

Markits final Manufacturing Purchasing Managers Index (PMI) for the eurozone fell to 51.8 in June from Mays 52.2, its lowest since November. The final figure was just below a preliminary flash reading of 51.9 but has now held above the 50 mark that separates growth from contraction for a full year. A subindex measuring output fell to 52.8 from 54.3, marking a nine-month low. Some of that tepid growth was generated by running down existing orders as new business increased at a slower pace than in May. The backlogs of work index fell to a nine-month low of 49.5 from 49.6.

The PMI survey will raise concerns that the euro zone recovery is losing momentum. The overall picture is a reminder of just how fragile the regions recovery is looking, said Chris Williamson, chief economist at data collator Markit. Having expanded a feeble 0.2 percent in the first three months of 2014, euro zone quarter-on-quarter growth is expected to be just 0.3-0.4 percent through to the end of next year.

The slowdown will put pressure on policymakers at the ECB to do more to prevent the recovery from stalling, and we will no doubt see more calls for full-scale quantitative easing to be implemented, Williamson said. The chance of the European Central Bank launching an asset purchase program has risen to one-in-three, a Reuters poll taken last week found, ahead of this Thursdays ECB policy-setting meeting. ECB President Mario Draghi announced a raft of measures last month to counter the threat of deflation and support growth, including cutting the deposit rate below zero and offering more long-term loans aimed at boosting bank lending to businesses. Inflation held steady at just 0.5 percent last month, well below the ECBs target of just below 2 percent and firmly in what it calls the danger zone. The PMI data showed factories raised prices marginally in June for a second month but not as fast as their input costs rose. [Reuters]

ekathimerini.com , Tuesday Jul 1, 2014 (11:49)  
Fitch keeps Greek rating at B, outlook stable
More cash for banks with same papers
Growth to fuel rise in revenues
Commercial property draws interest from investors
Cyprus on agenda in Biden visit to Istanbul
The prospects for the resumption of stalled peace talks on Cyprus and the issue of energy security were among the matters discussed on Saturday by US Vice President Joe Biden and Turkish gov...
PASOK nixes Papandreou leadership challenge
The junior coalition partner PASOK rejected over the weekend a proposal by the partys former leader and ex-premier George Papandreou for the party to call an emergency congress and a subseq...
Inside News
INTERVIEW
Tokyo hopes to change the world
The 2020 Summer Olympic and Paralympic Games in Tokyo will serve as a springboard for the rebuilding of Japans image and economy following the triple blow of the earthquake, tsunami and nuc...
BASKETBALL
Big win for Greens, tight one for Reds
Panathinaikos scored a crucial as well as emphatic away win at Turow on Thursday that should see it qualify from its tough group to the top 16 of the Euroleague, while Olympiakos saw off vis...
Inside Sports
COMMENTARY
Is Europe paying attention?
Barack Obama brought hope to the entire world when he was elected president of the United States in 2009 and then again in 2012 for a second term. During his first visit to Europe, marked by...
EDITORIAL
A reasonable agreement
Greece cannot and should not allow itself to be left without a safety net to make up for any funding needs that may crop up after the end of the year. Without such protection it would be at ...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
RECENT NEWS
1. Cyprus on agenda in Biden visit to Istanbul
2. PASOK nixes Papandreou leadership challenge
3. Troika tests govt nerves as budget rift persists
4. Climate change to hit farming, Greek coastline
5. Piraeus nightclub shooting leaves 3 seriously injured
6. London court to rule on extradition of former judge
more news
Today
This Week
1. Fitch keeps Greek rating at B, outlook stable
2. Piraeus nightclub shooting leaves 3 seriously injured
3. Climate change to hit farming, Greek coastline
4. PASOK nixes Papandreou leadership challenge
5. Cyprus on agenda in Biden visit to Istanbul
6. Troika tests govt nerves as budget rift persists
Today
This Week
1. Double quake on Atalanti fault line rattles Greek capital [Update]
2. Greece and Poland switch roles as young Greeks head to vibrant Eastern European country for better prospects
3. Anti-junta uprising anniversary to be marked amid tight security
4. Biden heads to Istanbul amid tension over Cyprus EEZ violation
5. Carlsberg takes control of Greek brewer Olympic Brewery [Update]
6. Every age has its collaborators
Find us ...
... on
Twitter
... on Facebook
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright 2014, H KAΘHMEPINH All Rights Reserved.