Economic data in Europe just went from bad to worse

The euro zone's business activity contracted in August, reaching its lowest level since November 2020, raising concerns about the region's economic growth and leading to speculation about the European Central Bank's next steps.

cnbc.com

Relevant topic timeline:

8/23/2023

Slide in euro zone service sector sharpens ECB's rates dilemma

Euro zone business activity declined more than expected in August, particularly in Germany, while some inflationary pressures returned, posing a challenge for the European Central Bank's efforts to control inflation without causing a recession.

8/23/2023

Euro falls on gloomy PMI data, dollar hits 2-month high

The euro fell to a more than two-month low against the dollar and a 12-month low against the pound after German and euro area business activity slumped in August, causing concerns about the overall economic health of the region.

8/26/2023

Charting the Global Economy: Euro Area Activity Retrenches

The contraction in euro area business activity has intensified, particularly in Germany, leading to expectations that the European Central Bank will pause its interest-rate hike campaign; US mortgage applications for home purchases have hit a three-decade low due to rising borrowing costs; South Korea's exports continue to decline, indicating lackluster global trade; Turkey's interest-rate increase has triggered a rally in the country's assets; shrinking water levels at the Panama Canal due to climate change may cause delays in restocking inventories before Christmas.

8/31/2023

Markets may have undone some of the ECB's work: Schnabel

Euro zone growth is weaker than predicted, but the need for more rate hikes by the European Central Bank is not automatically voided, according to ECB board member Isabel Schnabel, who raised concerns about investors undoing the ECB's past work and the decline in real risk-free rates counteracting efforts to bring inflation back to target.

8/31/2023

Euro zone price rises steady for August but core inflation declines further

Euro zone inflation in August came in higher than expected at 5.3%, posing a challenge for the European Central Bank as it remains unchanged from the previous month.

8/31/2023

Euro zone inflation unexpectedly steady in August but core drops

Euro zone inflation holds steady in August, but underlying price growth falls, complicating decisions for the European Central Bank as it considers a pause in rate hikes amid a slowdown in economic growth.

9/1/2023

Euro zone manufacturing downturn eases, China rebound offers hope

Euro zone manufacturing shows signs of improvement, while China's private PMI unexpectedly rebounds, offering hope for export-reliant economies, but Germany's manufacturing sector remains in a downturn and factory activity weakens in much of Asia.

9/5/2023

Euro zone August downturn deeper than was thought

The decline in euro zone business activity accelerated faster than expected last month, with the services industry falling into contraction, raising concerns of a possible recession.

Topics

Posted 8/23/2023, 9:09:28 AM

Economic data in Europe just went from bad to worse

cnbc.com

Relevant topic timeline:

8/23/2023

Slide in euro zone service sector sharpens ECB's rates dilemma

8/23/2023

Euro falls on gloomy PMI data, dollar hits 2-month high

8/26/2023

Charting the Global Economy: Euro Area Activity Retrenches

8/31/2023

Markets may have undone some of the ECB's work: Schnabel

8/31/2023

Euro zone price rises steady for August but core inflation declines further

Euro zone inflation in August came in higher than expected at 5.3%, posing a challenge for the European Central Bank as it remains unchanged from the previous month.

8/31/2023

Euro zone inflation unexpectedly steady in August but core drops

9/1/2023

Euro zone manufacturing downturn eases, China rebound offers hope

9/5/2023

Euro zone August downturn deeper than was thought

The decline in euro zone business activity accelerated faster than expected last month, with the services industry falling into contraction, raising concerns of a possible recession.