Euro zone: Private sector warns of 'uneven and fragile' recovery
Signs of weakness keep rate cut speculation on the table at the ECB
Thursday 20 February 2014
The eurozone’s “uneven and fragile” recovery was underlined today as the region’s private-sector companies stuttered in February, a new survey warned.
Financial data provider Markit’s latest snapshot of activity among manufacturing and services firms, where a score over 50 signals growth, remains in expansion territory but surprisingly slowed from 52.9 to 52.7.
Despite strong German growth, the main culprit for the slowdown was renewed malaise in France, where firms reported a fourth successive monthly slide in activity and new orders falling at an even faster rate than the previous month.
“A dip in the eurozone PMI provides a reminder that the region’s recovery continues to be uneven and fragile,” Markit chief economist Chris Williamson said.
Markit’s surveys suggest growth of 0.5 per cent for the eurozone in the current quarter, accelerating from the 0.3 per cent seen at the end of last year and the strongest pace for three years.
But analysts said the signs of weakness kept further rate cuts on the table at the European Central Bank, where President Mario Draghi is battling the threat of deflation as the single currency bloc labours under unemployment close to record levels.
- 1 Woman falls to her death as she celebrates marriage proposal at the edge of Ibiza cliff
- 2 Venezuela Expo Tattoo 2015: Extreme body art from 'Vampire Woman' to 109mm earlobes
- 4 Dad attempts revenge on teenage daughter, plan backfires spectacularly
- 5 Ball pool for adults opens in London
9 reasons Greece's experiment with the radical left is doomed to failure
Have we reached 'peak food'? Shortages loom as global production rates slow
Greece elections: Syriza and EU on collision course after election win for left-wing party
British grandmother Lindsay Sandiford faces execution by firing squad in Indonesia
Liberal Democrat minister defends comments suggesting immigration causes pub closures
King Abdullah dead: We can't afford not to hold Saudi Arabia's royals to account
iJobs Money & Business
£40000 - £50000 per annum: Recruitment Genius: This is an exciting opportunity...
£30000 - £35000 per annum + Benefits: Ashdown Group: Marketing Manager - Marke...
£13000 per annum: Recruitment Genius: This Pension Specialist was established ...
£23000 - £26000 per annum + Benefits: Ashdown Group: Market Research Executive...