The ECB has repeatedly argued that consumer spending would increasingly support growth, against a backdrop of slowing inflation and rising real incomes, and it’s likely to take the news as vindicating that argument. At the national level, Germany, Spain and France posted better-than-expected growth, while Italy’s came in below expectations. Ireland performed best, growing 2 … Read more
“We have three main policy recommendations,” Koeva-Brooks said, highlighting that the first is “for central banks to pivot towards providing more support to activity where inflation is under control.” By contrast, she added that governments should tighten fiscal policy to draw a line under the emergency measures of the pandemic years, as well as enacting … Read more
The standard playbook calls for a healthy dose of government spending that would inject money into the economy to fight the ongoing recession. In theory Berlin has plenty of fiscal room, with low debt compared to its European peers. But the rules it introduced — European and national — tie its hands. A slower rate … Read more
Eurozone business activity declined for the first time in seven months in September, as France lost steam after the end of the Paris Olympic Games, a key survey said Monday. S&P Global’s purchasing managers’ index (PMI) — a key gauge of the overall health of the economy — dropped to 48.9 in September, down from … Read more
European and Asian stock markets diverged Monday as investors digested weak eurozone economic data and an interest rate cut by China’s central bank. Investors were taking a breather after the US Federal Reserve triggered a rally last week by announcing a bumper interest rate cut. European equity markets struggled for direction, while the euro and … Read more
The German ZEW sentiment index on Tuesday painted a dire picture, with the assessment of the current situation now almost as bad as it was at the beginning of the Covid pandemic in spring 2020. ZEW head Achim Wambach said “the hope for a swift improvement in the economic situation is visibly fading.” For Centeno, … Read more
Only six ministers of 27 attended the meeting, including Varga himself. However, international organizations sent high-level participants, including the Managing Director of the International Monetary Fund, Kristalina Georgieva, and the Secretary-General of the Organisation for Economic Co-operation and Development, Matthias Cormann. Varga said the participation of “financial institutions of key importance” like the IMF and … Read more
The 20-country single currency zone’s recorded economic growth of 0.2 percent between April and June from the previous quarter AFP The eurozone economy’s growth in the second quarter this year was slightly smaller than previously estimated after the EU’s statistics agency on Friday revised its data. The 20-country single currency zone’s recorded economic growth of … Read more
The 20-country single currency zone’s recorded economic growth of 0.2 percent between April and June from the previous quarter AFP The eurozone economy’s growth in the second quarter this year was slightly smaller than previously estimated after the EU’s statistics agency on Friday revised its data. The 20-country single currency zone’s recorded economic growth of … Read more
During her spell as finance minister at the height of the eurozone crisis, she handled the country’s banking turmoil and steered through reforms that were encouraged by the country’s creditors. Albuquerque is one of only six women to have been put forward as commissioners, challenging President von der Leyen’s push for a gender-balanced team. Two … Read more
