Eurozone business activity remained stuck in negative territory in May but showed signs of stabilising, a widely-watched survey showed on Wednesday. The Markit Eurozone Composite Purchasing Managers Index was unchanged from the initial reading at 47.7 points, hitting a three-month high and well up on April's 46.9 points but still below the boom-bust threshold of 50 points. On the positive side, Germany, Europe's powerhouse economy, edged up to 50.2, a two-month high, while struggling Spain hit 47.2, its best performance in 23 months. France was still deep in trouble at 44.6, although this was a five-month high, while Italy was unchanged at 46.6. Chris Williamson, Markit chief economist said the report confirmed "that the eurozone remains gripped in the longest recession" since the introduction of the euro. The economy is likely to have contracted 0.2 percent in the second quarter, making for seventh consecutive run of negative figures, Williamson said. While the downturn may have eased, the "reality is that the region lacks any growth drivers, making it difficult to believe that anything better than a mere stabilisation of economic activity remains unlikely for the foreseeable future," he said.
GMT 12:09 2018 Monday ,26 November
Black Friday less wild as more Americans turn to online dealsGMT 15:07 2018 Sunday ,18 November
Refugee host countries discuss UNRWA's financial crisisGMT 17:22 2018 Wednesday ,31 October
Russia climbed to 31st place in Doing Business-2019 ratingGMT 16:53 2018 Wednesday ,17 October
"Putin" We need for collective restoration of Syria's economyGMT 14:02 2018 Friday ,12 October
Govt to announce incentives package for Overseas PakistanisGMT 18:26 2018 Saturday ,06 October
Dubai attracts Dh17.7 billion in foreign direct investmentGMT 09:02 2018 Friday ,21 September
Economy of Georgia demonstrates "strong signs of recovery"GMT 09:03 2018 Wednesday ,24 January
German investor confidence surges in JanuaryMaintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©
Send your comments
Your comment as a visitor