Friday, October 31, 2014   

Eurozone economy still in timid recovery: survey
(08-21 18:06)

A timid economic recovery in the eurozone is still holding, a closely-watched survey showed on Thursday, but at a pace that promises only negligible growth for the year.
This latest data is likely to strengthen the views of those who hold that the European Central Bank will eventually take extra measures to inject cash into the single-currency zone.
"The eurozone economy continued to make steady progress in August, as the region looks to bounce back following the recent weaker-than-expected GDP (gross domestic product) readings for the currency union,'' said Rob Dobson, senior economist at the private Markit research group which published the data.
Markit's set of leading indicators -- the purchasing managers' index (PMI) -- turned in a figure of 52.8, above the 50-point signalling growth or downturn, but lower than a revised figure of 53.8 in July.
At that level however, the region remained on course "to register growth of only around 0.3 percent - 0.4 percent in the third quarter, a level that is unlikely to stimulate any real turnaround in the labor market,'' Dobson added.
Official data last week showed that eurozone growth ground to a standstill in the second quarter, with none of the bloc's three biggest economies -- Germany, France and Italy -- registering growth. --AFP   
Other Business breaking news:
Athens stock market down 3.6pc (10-30 18:36)
Toshiba half-year net profit surges (10-30 17:27)
German jobless total falls in October (10-30 17:23)
VW confirms full-year targets after 'robust' Q3 (10-30 16:58)
Spanish economy expands by 0.5% in Q3 (10-30 16:58)
European stocks advance at open (10-30 16:57)
Hang Seng finishes lower (10-30 16:35)
Lufthansa cuts 2015 forecast on global economic slowdown (10-30 16:05)
Bayer raises forecasts for 2014 after strong Q3 (10-30 16:04)
NEC rebounds from losses on smartphone exit (10-30 15:25)

More breaking news >>

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