Saturday May 30, 2015 Search
Weather | Athens
14o C
09o 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 bloc’s periphery countries supported Germany, which was again the driving force, despite slower growth due to extra public holidays. But in France - the bloc’s second-biggest economy - the contraction in activity deepened.

Markit’s final Manufacturing Purchasing Managers’ Index (PMI) for the eurozone fell to 51.8 in June from May’s 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 region’s 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 Thursday’s 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 ECB’s 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)  
German bonds seen resilient as Greece talks produce false dawns
Checking lists of tax dodgers a slow process
Greek credit contraction amounted to 2.4 pct in April
Export-oriented firms benefit from euro rate
Panaritis appointed Greece´s IMF representative amid SYRIZA complaints
The appointment of economist Elena Panaritis as Greece’s new representative at the International Monetary Fund has prompted criticism from within SYRIZA, as well as from opposition parties. ...
Police confirm two arrested, one dead in raid to catch bank robbery suspects
Police confirmed on Saturday that they have arrested two men in a raid to catch the men suspected of carrying out 400,000-euro robbery last year. A third man died during the operation near V...
Inside News
SOCCER
Wemmer pens three-year deal with Panathinaikos
German defender Jens Wemmer has signed a three-year contract for an undisclosed sum with Panathinaikos, the Greek Super League club announced on Friday. Right-back Wemmer, 29, has been playi...
SOCCER
Panathinaikos conquers PAOK through Tavlaridis goal
A Stathis Tavlaridis goal has brought Panathinaikos to practically within one point from clinching a spot in next season’s Champions League qualifiers, as the Greens made it three out of thr...
Inside Sports
COMMENTARY
Zenobia, Barbara, Christine and the general’s daughter
ATHENS – Lovely Palmyra has fallen to the zombie horde and its people are being slaughtered as the ancient city awaits its fate. It is Friday, May 22, 2015, and from my window I see the end-...
INTERVIEW
The eurozone’s ‘ambiguous’ architecture
“That’s not something you’re supposed to say in public, right?” In his humble way, Thomas Sargent, Nobel Prize winner in Economics, tries to avoid the question posed to him by Kathimerini re...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Panaritis appointed Greece´s IMF representative amid SYRIZA complaints
2. Police confirm two arrested, one dead in raid to catch bank robbery suspects
3. German bonds seen resilient as Greece talks produce false dawns
4. Checking lists of tax dodgers a slow process
5. Some blame EU Commission for Greek obstinacy in debt talks
6. Charity funding to help students vie in Olympiads
more news
Today
This Week
1. Traffic accidents down in March
2. German bonds seen resilient as Greece talks produce false dawns
3. Greece open to compromise to seal deal this week, says interior minister
4. Some blame EU Commission for Greek obstinacy in debt talks
5. Charity funding to help students vie in Olympiads
6. Police confirm two arrested, one dead in raid to catch bank robbery suspects
Today
This Week
1. Hotel contracts with a ‘Greek default clause’
2. Some 300 mln left banks on Tuesday
3. Neither Grexit nor a dual currency will solve Greece’s problems
4. No more 'quick and dirty' fixes for Greece
5. Endless confusion and worry
6. Romantic notions meet reality
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2015, H KAΘHMEPINH All Rights Reserved.