France and Germany dragging down Eurozone recovery The core economies of Europe are holding back the rest of the Eurozone, where growth was at its highest level since before the recession. Our Europe analyst, Aengus Collins, shares the following remarks: The euro zone remains in a recovery phase, but the latest PMI data suggest that its momentum--which was weak to begin with--is flagging. In the three sets of preliminary PMI results published this morning--for France, Germany and the euro zone as a whole--activity was shown to have peaked in either March or April and to have weakened in each subsequent month. He continues by saying that the PMI figures for France in particular paints a picture of an economy in trouble. Given that real GDP stagnated in the first quarter and indicators point to weakening of the private sector, a return to solid growth remains some distance off. bit.ly/euPm6
Posted on: Mon, 23 Jun 2014 11:51:32 +0000
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