French Private Sector Contracts For Fourth Month

RTTNews | 86 일 전
French Private Sector Contracts For Fourth Month

(RTTNews) - France's private sector contracted for the fourth straight month in December as both manufacturers and services providers registered declines in output, flash survey results from S&P Global showed on Monday.

The HCOB composite output index posted 46.7 in December, up from 45.9 in November. A reading below 50 indicates contraction. The index signaled an extension of the downturn seen in the private sector since September. Although the pace of decline slowed from November, the score suggested the second-sharpest fall over the last eleven months.

The hardest drag on activity came from the manufacturing sector, which posted the most rapid decrease in over four-and-a-half years. Service providers also registered a weaker drop of activity compared to November.

The manufacturing Purchasing Managers' Index dropped unexpectedly to 41.9 in December from 43.1 in the previous month. The expected score was 43.2.

Meanwhile, the services PMI rose to 48.2 in December, while it was expected to remain unchanged at 46.9.

"The industrial sector remains the Achilles heel of the French economy, and even the relatively better-performing services sector fails to provide any growth impetus," Hamburg Commercial Bank economist Tariq Kamal Chaudhry said.

Political instability will not disappear anytime soon, Chaudhry added. The economist said service companies indicated that political uncertainty is a hindrance to business.

read more
Eurozone GDP Growth Revised Up To 0.2%

Eurozone GDP Growth Revised Up To 0.2%

The euro area economy grew in the fourth quarter at a faster than initially estimated pace, driven by consumption and investment. Eurozone economic growth for the fourth quarter was revised up to 0.2 percent from 0.1 percent, Eurostat reported. Nonetheless, this was weaker than the 0.4 percent expansion seen in the third quarter.
RTTNews | 5 일 전
German Industrial Orders Fall More Than Forecast

German Industrial Orders Fall More Than Forecast

Germany's industrial orders declined more than expected in January reflecting sharp decreases in orders for machinery and transport equipments. Industrial orders fell 7.0 percent month-on-month in January, in contrast to the revised 5.9 percent rise in the previous month, data from Destatis showed on Friday. Economists had forecast a moderate 2.8 percent fall for January.
RTTNews | 5 일 전
ECB Lowers Rates, EZ Growth Outlook Amid Rising Uncertainty; Signals Pause Ahead

ECB Lowers Rates, EZ Growth Outlook Amid Rising Uncertainty; Signals Pause Ahead

The European Central Bank cut its key interest rates for the fifth policy session in a row and also lowered the growth forecast for the euro area mainly due to prospects of weak exports and investment in the backdrop of high trade uncertainty amid the tariffs war, and signaled a pause in the easing cycle as policy is now deemed less restrictive.
RTTNews | 5 일 전
Eurozone Retail Sales Fall Unexpectedly

Eurozone Retail Sales Fall Unexpectedly

Eurozone retail sales declined unexpectedly in January on non-food and auto fuel sales, official data showed on Thursday. Retail sales registered a monthly drop of 0.3 percent, confounding expectations for an increase of 0.1 percent. The statistical office revised up retail sales for December to nil growth from the initial estimate of 0.2 percent fall.
RTTNews | 6 일 전
German Construction Activity Remains In Deep Contraction

German Construction Activity Remains In Deep Contraction

Germany's construction sector continued to contract and the pace of decline worsened in February, survey results from S&P Global showed on Thursday. The HCOB construction Purchasing Managers' Index registered 41.2 in February, down from January's 20-month high of 42.5. The reading remained well below 50.0 indicating contraction.
RTTNews | 6 일 전
Eurozone Private Sector Logs Marginal Growth

Eurozone Private Sector Logs Marginal Growth

Euro area private sector grew modestly in February as Germany, Spain and Italy expanded, but French activity hit the lowest in more than a year, final results of the purchasing managers' survey by S&P Global showed on Wednesday. The HCOB final composite output index remained unchanged at 50.2 in February. The score also matched the flash estimate of 50.2.
RTTNews | 7 일 전
Eurozone Jobless Rate Steady At Record Low

Eurozone Jobless Rate Steady At Record Low

Euro area unemployment rate remained unchanged at a record low in January despite weaker economic activity, official data showed Tuesday. The jobless rate stood at 6.2 percent in January, unchanged from December, Eurostat reported. This was down from 6.5 percent in the same period last year. The expected rate was 6.3 percent.
RTTNews | 8 일 전
Eurozone Inflation Slows To 2.4%

Eurozone Inflation Slows To 2.4%

Eurozone inflation eased slightly in February partly reflecting the slowdown in services inflation but the rate remained above 2 percent, flash data from Eurostat showed on Monday. The harmonized index of consumer prices logged an annual growth of 2.4 percent after rising 2.5 percent in January. The rate was expected to ease to 2.3 percent.
RTTNews | 9 일 전