The Eurozone came close to stalling in September after global trade disputes and the threat of a no-deal Brexit triggered the fastest fall in manufacturing output in nearly seven years.
Germany was the main cause of the slowdown following a survey of private sector activity. It had shown that the growing threat to international trade from the U.S.-China trade war had left it in the worst position since 2009.
The German Purchasing Managers’ Index (PMI) for manufacturing fell from August’s 43.5 to 41.4 in September, making it well below the 50 mark that separates expansion from contraction.
This decline contributed to a deepening manufacturing recession across the Eurozone where output fell at the sharpest pace since 2012; the optimism among business executives fell to its lowest for seven years.
Oil traded higher on Friday, further reclaiming lost ground from three-week lows in the previous session as the COVID-19 situation continued to dent the global economy as well as oil consumption. Brent crude gained 0.3%, trading at $43.08 ...
Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...
European shares traded lower earlier on Thursday after underwhelming earnings reports dampened a U.S. Fed vow to continue rolling out stimulus plans in a bid to soften the economic blow of the COVID-19 pandemic. The pan-European STOXX lost ...
European stocks traded slightly higher on Tuesday ahead of a U.S. decision to roll out additional stimulus plans despite the underwhelming quarterly earnings reports from the luxury goods market. The pan-European STOXX index inched higher ...
The dollar was under pressure on Monday as the escalating U.S.-China tensions weighed on the market, while investors worried that the U.S. coronavirus resurgence could stall economic recovery. The dollar fell to a four-month low on the yen ...