Fabian Demicoli

Slow recovery as manufacturing sector stagnates further


On the 21st of
August the private research group Markit published its Flash Eurozone Composite
Output Index. This showed that the Eurozone economy continues to recover
however at a very small pace that only predicts very limited growth for the
near future.

Despite the index having been above the neutral level of 50.0
(52.8 for the month of August) the GDP growth was only at 0.3%. The
manufacturing sector in particular is experiencing a period of slow economic
expansion. The services sector is doing marginally better but nevertheless
growth reclined here as well. Overall this had a negative effect on
unemployment with companies not feeling safe enough to engage in large scale
hiring. In addition the geopolitical uncertainties are contributing further to
this slow economic recovery.

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