[ad_1]
Eurozone private sector activity slowed sharply in June, especially in manufacturing. The index had its worst performance in six months, according to the S&P Global PMI released on Friday.
(Read here: IMF asks Eurogroup to use greater growth for fiscal adjustment)
According to the report, based on a survey of businessmen, The Eurozone PMI index was 50.8 in June, compared with 52.2 in May.
In the PMI index, Numbers greater than 50 indicates growth in private sector activities, while the following figures indicate contraction in private sector activities.
Standard & Poor’s stated in its report “The eurozone economic recovery suffered a setback at the end of the second quarter of this year.”
He also said, “The modest increase in total activity was the weakest since March last year, suggesting that momentum is losing as the first half of the year draws to a close.” Standard & Poor’s stressed that Germany, as the largest economy in the eurozone, “Total activity increased for the third straight month, but the pace of expansion has slowed and is only modest.”
(See also: Why does it take so long for world interest rates to fall?)
Business confidence falls in June, report says “Amid a decline in new orders, optimism was the lowest in four months.”
For Cyrus de la Rubia, an economist at Hamburger Commerzbank, France’s weak performance appears to be one reason for the slowdown In particular, early legislative elections were announced.
(Read here: “Global economy to grow 2.6% in 2024”: World Bank)
In his vision, “Unexpected developments could create a lot of uncertainty about future economic policy, causing many companies to halt new investments,” Indian.
AFP
[ad_2]
Source link
