FRANKFURT, Germany—Inflation in the European countries using the euro currency has broken into double digits as prices for electricity and natural gas soar, signaling a looming winter recession for one of the globe’s major economies as higher prices undermine consumers’ spending power. Consumer prices in the 19-country eurozone rose a record 10 percent in September…
Inflation Hits Record 10 Percent in 19 EU Countries Using Euro
September 30, 2022
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Eurozone Second Quarter Growth Revised Up, Supported by Household Spending
September 7, 2022
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BRUSSELS—Eurozone economic growth was stronger than previously estimated in the second quarter, data showed on Wednesday, as household spending recovered after half of year of stagnation despite the squeeze on disposable income from spiraling inflation. The European Union’s statistics office Eurostat said gross domestic product in the 19 countries using the euro rose by 0.8…
Eurozone Business Activity Contracted Again in August: PMI
LONDON—Eurozone business activity contracted for a second month in August as demand sank, with customers wary of the deepening cost of living crisis and gloomy economic outlook curtailing their purchases, a survey showed. S&P Global’s final composite Purchasing Managers’ Index (PMI), seen as a guide to economic health, fell to an 18-month low of 48.9…
High Inflation, Recession Risk Widen ECB Dilemma
August 31, 2022
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FRANKFURT—Eurozone inflation jumped to another record high and will soon hit double-digit territory, heralding a string of big interest rate hikes even as a painful recession appears increasingly certain. Driven by expensive gas and a devastating drought, consumer prices jumped more than expected in August and further rises are already in the pipeline, suggesting more…
Central Banks Must Tighten Policy Even Into a Recession, ECB’s Schnabel Says
August 29, 2022
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JACKSON HOLE, Wyo.—Central banks around the world risk losing public trust and must now act forcefully to combat inflation, even if that drags their economies into a recession, European Central Bank board member Isabel Schnabel said on Saturday. Inflation is close to double-digit territory in many of the world’s top economies and any decline is…
Eurozone Business Activity Contracted Again in August, Outlook Bleak
August 23, 2022
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LONDON—Business activity across the eurozone contracted for a second straight month in August as the cost of living crisis forced consumers to curtail spending while supply constraints continued to hurt manufacturers, a survey showed on Tuesday. The global economy is increasingly at risk from sliding into recession as Ukraine’s war and China’s strict COVID-19 lockdowns…
Eurozone July Inflation Confirmed at 8.9 Percent Year-on-Year, Core Measure Sharply Up
BRUSSELS—Eurozone inflation reached a new record high of 8.9 percent year-on-year in July, the EU’s statistics office confirmed on Thursday, with the core measure, excluding the most volatile components and key for monetary policy, also sharply up. The European Union’s statistics office Eurostat said consumer prices in the 19 countries using the euro rose 0.1…
Eurozone Second Quarter Growth Revised Down Slightly, Employment Rises
BRUSSELS—Eurozone economic growth was slightly less robust in the second quarter than forecast but still strong, and employment rose again, revised data from the European statistics office showed on Wednesday. Eurostat said gross domestic product in the 19 countries using the euro rose 0.6 percent quarter-on-quarter in April-June for a 3.9 percent year-on-year rise. The…
Eurozone Investor Morale Edges Up, Recession Still Likely: Sentix
August 8, 2022
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BERLIN—Investor morale in the eurozone was essentially unchanged in August from the previous month, with a slight rise too little to stave off fears of recession in the 19-country currency bloc, a survey showed on Monday. Sentix’s index for the eurozone inched up to -25.2 points from -26.4 in July. A Reuters poll had pointed…
Eurozone Business Activity Contracted in July as Customers Stayed Home
LONDON—Business activity in the eurozone contracted slightly in July for the first time since early last year as consumers reined in spending amid a cost-of-living crisis, according to a survey which suggested the outlook for the economy was gloomy. S&P Global’s final composite Purchasing Managers’ Index (PMI), seen as a good gauge of economic health,…
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