Eurozone – Page 2 – Business Insider Australia

Markets Apr. 30, 2020, 8:37 PM

The coronavirus’ horrendous impact on Europe’s economy is growing clearer as GDP shrinks 3.8%, and Germany, France, and Spain report catastrophic data

The eurozone economy contracted by 3.8% in the first quarter of 2020, according to preliminary estimates from Eurostat. The European Union lost 3.5% of gross domestic product, the data showed. The French and Spanish economies shrank by 5.8% and 5.2% in the first quarter of 2020, a sign of the […]

Markets Mar. 24, 2020, 11:36 PM

‘Truly horrifying’: 6 economic surveys show coronavirus is hammering the global economy

Coronavirus is hammering economic activity and threatening global growth, according to survey data from five countries and the eurozone published on Tuesday. Flash composite Purchasing Managers Index (PMI) readings plunged to record lows in France, Germany, the UK, and the eurozone, signalling stark declines in manufacturing and service activity. “The […]

Markets Jan. 4, 2020, 9:46 PM

The euro has been around for 21 years — here are the 12 currencies it replaced

For millions of Europeans, this week marked the 18th anniversary of when they started to use the euro. The euro was introduced in 12 countries as coins and bank notes on January 1 2002, replacing what were in some cases centuries-old currencies. It’s now the second most-used currency worldwide. Those […]

Markets Oct. 24, 2019, 9:12 PM

Europe just waved another red flag as new data suggests its economy is at risk of stagnating

European leaders have a fresh headache as data released on Thursday suggests the eurozone economy may only grow 0.1% this month. The IHS Markit flash PMI reading inched up from 50.1 in September to just 50.2, indicating the economy is close to stagnating. Germany continued to disappoint as employment fell […]

Markets Oct. 3, 2019, 10:46 PM

Trump’s trade attack on Europe couldn’t come at a worse time for a region on the brink of recession

Data released this weak is showing that Europe’s economy is slumping further. Manufacturing looks like it is in a technical recession and now services, once the remaining bright light, has fallen. All this points to a European recession, which will be exacerbated by Brexit and the US-China trade war. The […]

Markets Oct. 1, 2019, 2:11 AM

European stocks have lagged US ones by 20%. JPMorgan says now is the time to pounce.

JPMorgan in a note said that now is the time to move into European stocks. The bank’s equity strategists previously had favoured US stocks, but “now believe that that there is a tactical opportunity opening up for eurozone to catch up.” This comes despite obvious threats in the European economy, […]

Markets Aug. 29, 2019, 9:41 PM

Germany’s economy is flopping and the manufacturing sector just keeps declining — here’s why recession could be around the corner

Germany’s economy has been faltering and could be in a technical recession, according to economists. Data on Thursday added to Germany’s woes, as new factory orders declined in July and construction was at its lowest level in five years. The economy contracted in the last quarter and consumer sentiment continues […]

Markets Aug. 19, 2019, 11:47 PM

Germany’s central bank just warned a recession could be coming. Its government is prepared to spend $55 billion to fight it.

Germany’s central bank has warned the economy could shrink for a second consecutive quarter, plunging the country into recession. The German government is exploring ways to boost the world’s fourth-biggest economy and prevent an economic crisis, according to Bloomberg. Finance minister Olaf Scholz is prepared to inject 50 billion euros […]

Markets Aug. 15, 2019, 12:09 AM

Here’s why the German economy is tanking and most likely headed for recession

Germany’s economy contracted by 0.1% in the second quarter, and industrial output fell month-on-month by 1.5% in July. If Europe’s biggest economy tips into recession, the rest of the eurozone is likely to suffer. The US-China trade war has been a key driver of the decline, as both countries are […]

Markets Aug. 14, 2019, 6:17 PM

Germany’s economy just shrank, meaning Europe’s biggest economy is ‘teetering on the edge of recession’

Germany’s economy shrank 0.1% in the second quarter, driven by a decline in exports due to the US-China trade war. The slowdown is bad news given Germany is Europe’s largest economy and a key player in the eurozone. The contraction comes after the UK economy shrunk last week for the […]

Markets Aug. 10, 2019, 5:00 PM

Three of Europe’s biggest economies are probably in recession — and the ECB is totally out of bullets

Three of Europe’s largest economies Germany, Italy, and the UK are either in recession or are on the verge of it, which could spell danger for the eurozone. Germany, Europe’s industrial backbone is stuttering, and unemployment has risen for the second time in three months. The UK economy contracted for […]

Markets Jul. 9, 2019, 11:44 PM

Germany, the backbone of Europe’s economy, ‘hit a brick wall’ in the second quarter

Factory orders in Germany plunged by 2.2% month-to-month in May, well below the consensus for a 0.2% fall driven by a fall in exports. Germany, Europe’s largest economy, wobbled in the last quarter but a recession is unlikely, say economists. If forecasts are correct, a decline in German manufacturing will […]

Markets Feb. 6, 2019, 9:18 PM

A CEO at one of the world’s largest asset managers is downbeat on European M&A while ‘people are frozen’ before Brexit

Kenneth Jacobs CEO of Lazard, one of the world’s largest asset managers, says the UK has been “frozen” by Brexit. The company sees Europe as more of a mixed picture, but suggests that domestic companies are more nervous. “Brexit is putting a lot of things on hold because we’re getting […]

Markets Oct. 16, 2018, 11:10 PM

Italy just took a step closer to a major clash with the rest of Europe over its budget crisis

Italy submitted its budget for review to the European Union on Tuesday, likely bringing tensions over the country’s spending plans to the fore. The budget proposes increasing both Italy’s overall government debt and its deficit in the short run, pushing the deficit as high as 2.4% of GDP over the […]

Markets Jun. 14, 2018, 10:40 PM

Euro slides after ECB says it will end its 2.5 trillion euro bond-buying program

The European Central Bank said Thursday it will end its bond-buying program in December. The central bank also said it expects to keep rates unchanged through to mid 2019. The euro fell 0.73% against the greenback following the announcements. The euro slid versus the dollar Thursday after the European Central […]

News Jun. 2, 2018, 6:54 PM

These 3 men hold the future of the euro in their hands

After months of wrangling and a week of crisis, Italy finally has a government. Three men are key to this government – Prime Minister Giuseppe Conte, Five Star Movement leader Luigi Di Maio, and Lega Nord chief Matteo Salvini. The men now arguably have the fate of the eurozone in […]

Markets May. 29, 2018, 10:42 PM

The euro is sliding amid political uncertainty in Italy

The euro was down more than 0.5% versus the dollar early Tuesday. A tumultous political scene in Italy is rattling the currency. Follow the euro in real time here. The euro fell against the dollar on Tuesday as political uncertainty in Italy roiled markets. The euro had shed more than […]

Markets Jul. 20, 2017, 11:31 PM