Eurozone economy

    • Eurozone business climate rises despite Covid-19 wave

      Eurozone business climate rises despite Covid-19 wave

      The business climate in the Eurozone rose at its fastest pace in 15 years in July despite worries linked to increasing Covid-19 cases in major industrial countries. The growth was driven by the zone's key service sector, Reuters reported, quoting details of official survey. Supply chain disruptions and labour shortages resulted in higher prices of input materials across Europe. They rose at their fastest p[ace in over two decades.

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    • Economic sentiment in Eurozone surges to 21-year-high

      Economic sentiment in Eurozone surges to 21-year-high

      The Economic Sentiment Indicator (ESI) of the Eurozone peaked to a 21-year high in June, fueled by accelerated vaccination and economic reopening in Western countries, Reuters reported. The general recovery was led by restored activity and high demand in service and retail sectors. The European Commission's monthly sentiment survey for the 19 Member States of the Eurozone showed optimism had risen to 117.9 points in June from 114.5 in May, exceeding forecast estimates of 116.5.

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    • Services drive Eurozone to record business growth

      Services drive Eurozone to record business growth

      Eurozone posted robust business growth in May fueled by surging service sector, Reuters reported. The record pace of growth was initiated by very strong demand for services in the Eurozone as Covid-19 related restrictions were eased in most countries. The service sector plays a dominant role in the bloc, but the spurred spending also pulled up the factory activity which registered the fastest monthly growth rate on record.

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    • Eurozone inflation surges as economies restart

      Eurozone inflation surges as economies restart

      Inflation of the Eurozone surged last month to 2%, BBC reported. Soaring prices were largely attributed to the lifting of pandemic lockdowns in most European countries which spurred end-consumer demand. Prices were also pushed higher by a very strong rise in energy prices from a year ago and put inflation at its highest level since October 2018, ECB said.

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    • Eurozone business activity resumes growth in March

      Eurozone business activity resumes growth in March

      The business activity of the Eurozone returned to growth in March, driven by a strong expansion of the manufacturing sector, Reuters reported. The robust growth seems unaffected by the third wave of pandemic which locked down most European countries. IHS Markit’s Services Purchasing Managers’ Index (PMI) rose to 49.6 in March from February’s 45.7, much higher than a flash estimate of 48.8 and only shy of the 50 mark that separates growth from contraction.

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    • Eurozone corporate lending stalls curbed by credit limits

      Eurozone corporate lending stalls curbed by credit limits

      Recession is strongly advancing in the Eurozone as ECB figures showed a slowing pace in corporate lending and financing, Reuters reported. The big story behind this phenomenon goes back to 2020. In the peak times of pandemic lots of European companies rushed to secure funds to offset the expected lowdown. The slowdown came and still goes on but the majority of firms have already reached their credit limits and can not afford more loans.

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