Tag: Stagnates

Eurozone business activity stagnates in September as rebound stalls

The Eurozone is still battling the damaging effects of the COVID-19 pandemic. Photo: Getty
The Eurozone is still battling the damaging effects of the COVID-19 pandemic. Photo: Getty

Business activity stagnated across eurozone manufacturers in September, according to market research firm IHS Markit.

After seeing a rebound in July and a little bump in August, “the eurozone’s economic recovery stalled in September, as rising COVID-19 infections led to a renewed downturn of service sector activity across the region,” said Chris Williamson, chief business economist at IHS Markit.

Its flash Eurozone Composite PMI dropped to 50.1 in September, from 51.9 in August, as “rising infection rates and ongoing social distancing measures curbed demand, notably for consumer-facing services,” IHS Markit wrote.

Faster growth of manufacturing, led by Germany, was offset by a renewed downturn in the service sector, which was often linked to resurgent COVID-19 infection rates, IHS Markit reported.

Watch: What is a V-shaped economic recovery?

“The Eurozone recovery has stalled before it even reached

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U.S. Plods Ahead, Europe Stagnates

(Bloomberg) — The U.S. housing market is powering ahead while lean business inventories are creating an updraft for shippers and manufacturing — consistent with projections for a third-quarter snapback in economic growth.

The path of the coronavirus, nonetheless, remains a risk to the world’s largest economy, evidenced by the recent struggle with the disease’s resurgence in Europe. Some governments there have reinstated restrictions and that’s caused the recovery to stagnate.

Here are some of the charts that appeared on Bloomberg this week, offering insight into the latest developments in the global economy:

World



a screenshot of a cell phone: Pandemic Fallout


© Bloomberg
Pandemic Fallout

The damage to labor markets from the coronavirus is proving worse than anticipated, according to the International Labour Organization, which also sees a much slower recovery at the end of this year.

U.S.



a screenshot of a cell phone: U.S. new-home sales surprise in August, rise to fresh 14-year high


© Bloomberg
U.S. new-home sales surprise in August, rise to fresh 14-year high

Sales of new homes unexpectedly advanced for

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