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Surveys Cast Doubt On Durability Of Euro-Zone Recovery

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LONDON — The durability of Europe’s recovery looked more doubtful Wednesday after business surveys pointed to dimming confidence about prospects for growth in economies that are pressing ahead with austerity measures.

Euro-zone purchasing managers indexes showed that private sector companies expanded at a slightly slower pace in June, but beneath the main figures there was feeble demand for goods and services from consumers in Germany, which has the bloc’s biggest economy.

With European governments intent on cutting spending, the surveys suggest that companies share many of the same worries as U.S. policy makers about withdrawing stimulus too quickly. Those worries are shaping up to be a main point of contention at this week’s summit meeting of the Group of 20 leaders.

The P.M.I. index for business expectations in the bloc’s dominant services sector fell to its lowest level since July 2009, while a separate survey Wednesday showed that confidence in French factories unexpectedly declined.

“The euro-zone recovery continues but appears to be shifting into a lower gear,” said Martin van Vliet at ING Financial Markets. “This is a clear indication that the pace of recovery will likely slow down in the second half of the year, as also indicated by the recent slowdown in other leading economic indicators.”

There was a similarly mixed picture from the closely watched German Ifo survey Tuesday, which showed that German business sentiment reached its highest level in June since May 2008 — but also wilting expectations about the future.

Look it's the wilting recovery, now that's unexpected.....

Looks like they are running out of options to bring demand forward.

Still it's locked in.

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[Look it's the wilting recovery, now that's unexpected.....

Looks like they are running out of options to bring demand forward.

Still it's locked in.

No more printed fertiliser? Lots more paper awaiting a bit of ink and numbers, so what's the problem? I suppose they have been trying that for years and it hasn't worked, so.....................let's try it again? Obama wants to, so it must be alright.

Not sure about locked in. I think we should respell it as it's meant to be applied to our leaders: 'They are locked in'.

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  • 433 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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