Euro Crisis : New Depressing Data

Share On Facebook

Gloomy euro news was in no short supply this morning, backed up by official data.

Spain looked to be on the brink of a Moody’s downgrade, while Greek state broadcaster Net TV claimed the country’s economy could contract by 3.8 per cent next year –  a much more desperate picture than the “flatline” the European Commission had previously predicted.

Meanwhile, new data showed the number of unemployed in Europe is now over 25 million  – with over 18 million residing in nations within the troubled eurozone.

Youth rates in Greece and Spain during July and August were particularly high –  55.4 and 52.9 per cent respectively, according to Eurostat.

Manufacturing data across the zone was no less depressing. Markit’s headline purchasing manager’s index, (PMI) fell to 42.7 last month, from 46 in August, the lowest result since April 2009.

 

 

 

 

 

 

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.

Leave A Reply

 
Do you want to write for our Newspaper? Get in touch: newspaper@advfn.com

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P: V: D:20190721 06:57:41