Eurozone Faces Heightened Recession Worries Amid Weak Manufacturing PMIs
An ongoing contraction in manufacturing across the Eurozone is stirring concerns regarding a possible recession in the single-currency area, as economists believe the service sector might be not enough to support faltering GDP growth.
Kristian Rouz — A batch of recent Purchasing Managers' Index (PMI) reports from UK-based information provider IHS Markit suggests the Eurozone's manufacturing sector is facing the pressure of disruptions in international trade and weakening intra-EU trading ties.
The reports also found that Spain now appears to be the quickest-growing national economy within the Eurozone for the first time in history, outpacing the bloc's economic powerhouse: Germany.
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