10/24/2019, 10:00 AM (Source: TeleTrader)
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Economic activity in euro area barely up in October

In spite of a looming recession in Germany, the Eurozone saw a marginal acceleration in the private sector this month after an almost unchanged reading for September. The preliminary print for IHS Markit's purchasing managers' index, or PMI, landed at 50.2 points or 0.1 above the previous update. The 50-point mark is consistent with stagnation.

The main manufacturing indicator was unchanged at 45.7, which translates to a substantial slump and the ninth decline in a row together with job losses, while the output measure added 0.1 points to come in at 46.2. The services component strengthened just 0.2 points to 51.8, seemingly just enough to keep the economy above water. Total demand weakened for the second month and sentiment worsened to a level unseen since 2013.

The report's authors warned global trade tensions could impact households.

Baha Breaking News (BBN) / IT