In Germany and the eurozone, the expected economic recovery is increasingly postponed; the business environment is surprisingly deteriorating.
The mood in construction, industry and consumers deteriorated at the end of the year. The mood barometer fell by 1.9 points to 93.7 points in December, data from the European Commission showed on Wednesday. However, economists surveyed expected only a minimal decline.
However, when it comes to service providers, things have increased slightly. While the mood worsened in France, Germany and Italy, it remained largely stable in Poland and the Netherlands.
Economy “on shaky ground”
The currency area’s economy was still on track for a recession in December, according to a business survey. The purchasing managers index, which brings together service providers and industry and is widely followed in the financial market, rose by 1.3 points to 49.6 points, financial services provider S&P Global recently announced. However, the barometer is still below the 50-point growth threshold. “The euro economy was also on shaky ground in December,” the report said.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
