Tiger Brokers

Eurozone economy starts fourth quarter in stagnation

seekingalpha
06 Nov 2024

rarrarorro

  • Services PMI in the Euro Area increased to a 2-month high of 51.60 points in October from 51.40 points in September.
  • Composite PMI In the Euro Area increased to 50 points in October from 49.60 points in September 2024.
  • October saw the volume of outstanding business across the euro area shrink as lower demand allowed firms to focus more resources on backlogged orders.
  • "Growth and stability are not the first words you would associate with the current economic situation in the euro area. But that is exactly what the services sector has been providing, with stable growth since early this year," Dr. Cyrus de la Rubia, Chief Economist at Hamburg Commercial Bank said.
  • "The modest expansion of the services sector has been crucial in keeping the currency union out of recession."

ETFs: (EWG), (GF), (EWI), (EWQ), (FGM), (DAX)

Currency: (EUR:USD)

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