2012年10月30日星期二

The euro area economy in October cascade of three years under

It extends to the recession in the fourth quarter in economic sentiment in the euro zone eight consecutive months of decline, the lowest for more than three years in October, an increase of signs.
Executive director of the consumer confidence index in the 17 - nation euro area fell to 84.5 index from 85.2 in September, the European Commission said in Brussels. This is the lowest level since August 2009. Economists expected a drop to 84.4 average in a Bloomberg News survey of 27 estimates.
The European economy could contract in the third quarter continued to contract by 0.2% in the last three months, the first time since the 2009 recession. With austerity measures across the euro area, damaging the confidence of consumers and businesses, the unemployment rate reached a record ECB last month cut its economic growth forecast for the eurozone in 2013. Economists forecast the unemployment rate in Germany increased twice more than in October, today's report shows.
"In the euro zone economic confidence index drops in October to strengthen the region's recession may deepen and expand care, said:" ING Groep NV in Amsterdam economist Martin Van Vliet. Continued tightening of fiscal policy, the global economic slowdown and the lack of decisive action to resolve the crisis continue to wreak havoc. 'Unemployment in Germany
The euro rose 3% in the past two months, after European leaders to step up their response to the crisis and the European Central Bank's commitment to buy bonds of troubled countries, if they need outside help. European Currency trading $ 1.2953 at 11:36 am on the day in Brussels, with an increase of 0.4%.
Governments may be difficult to meet its budgetary targets, at least five euro zone economies in recession and cooling. The euro zone services and manufacturing output shrinking and unemployment remained since the series began in August data from 1995, to 11.4%.
In Germany, Europe's biggest economy, increasing the number of people losing their jobs, seasonally adjusted 20,000 in September to $ 294 million, the Federal Labour Office in Nuremberg said today. Economists had expected revenue estimated at 10 000 31 Bloomberg survey median. The adjusted unemployment rate remained at 6.9%."Stronger"
Displays the report today, the mood of European manufacturers, the measure fell at minus 18 from minus 15.9 in September. An indicator of confidence in the service, down from 11.9 negative to negative 12.1, while the index of consumer sentiment rose to 25.7 from minus minus 25.9. The confidence index in the construction sector also declined compared to the previous month.
Last week, the largest car manufacturer in Europe, based in Wolfsburg, Germany, Volkswagen AG (Volkswagen AG) (VOW), weaker demand in operating income was reduced from nine months. German sporting goods maker Puma SE (PUM), said earlier this month, plans to cut costs and the world's largest luxury goods maker LVMH Moet Hennessy Louis Vuitton SA (MC), known as the "environment" tougher ".
In Valhalla, Carl Weinberg, chief economist at High Frequency Economics in New York, said: "We are looking for an indicator of southern Europe," Kathleen Hays on Bloomberg Radio on October 24. "More like Europe to the Great Depression," more than any other economic cycle, we have seen the events in our lives. "Capacity utilization
Today's report shows, is a measure of the production of euro zone manufacturers are expected to decline to less than minus 10.2 in November. An indicator of the order of the books fell to minus 34.9 from minus 30.5, while employment expectations index also decreased compared to the previous month.
Indicators capacity utilization rate of production of a 76.8%, 77.9% was reduced in the previous quarterly survey. Data were collected in January, April, July and October. A separate indicators will be considered to ensure the production of 3.1 orders in hand, from the quarterly survey results above show the same number of months. This is from 3.3 last year.
The ECB said in its September 6 quarterly forecast, the euro zone economy is likely to grow by 0.5% next year, in June, half the pace expected. International Monetary Fund (IMF) last month cut its 2013 economic growth forecast from 0.7% to 0.2%. The two institutions that the contraction of the economy this year.ECB plan
The Frankfurt-based bank has cut the central borrowing costs hit a record of more than 1 billion euros (about $ 13 billion) of cheap money flooded the banking system to withstand the credit crisis. The details of the bonus program Infinity announced last month by the president of the ECB, Mario Draghi, to combat the financial crisis.
However, the packages Juckes, head of research at Societe Generale bank in London said that some of the economic difficulties that banks in the region. While living bloated balance can be with the help of cheap finance funding, and the European Central Bank loans, they still can not sell shares or become more healthy, "he said.
He said: "They can not get loans for economic growth, so we have no growth and continue to raise taxes and cut public spending, Tom Keene on Bloomberg Radio" Bloomberg monitoring This is an extremely make "October 24 ". disappointing results. '

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