Taps Coogan – August 31st, 2023
Enjoy The Sounding Line? Click here to subscribe for free.
The following chart, from S&P Global, highlights the renewed slowdown in Eurozone PMI. As noted, it is the sharpest decline since November 2020 and, barring the lockdowns, the worst since 2013.
#PMI #FactoftheWeek The Eurozone Flash PMI signalled the sharpest drop in output since November 2020 in August, and the most marked since 2013 when excluding pandemic months. https://t.co/JJjdnqXr1X pic.twitter.com/OsKJ4PiemJ
— S&P Global PMI™ (@SPGlobalPMI) August 30, 2023
Several Eurozone countries such as France and Spain had mild technical recessions earlier this year while Germany has remained in a more tangible recession since last winter. From the looks of it, Germany’s recession is likely to worsen and the rest of the Eurozone may double dip back into technical recession later this year.
Would you like to be notified when we publish a new article on The Sounding Line? Click here to subscribe for free.
