YEREVAN 16 C°
RA CB:
  • USD - 396.02 AMD +0.02 EUR - 431.27 AMD +0.27 RUB - 5.71 AMD +0.71 GBP - 490.04 AMD +0.04
  • GOLD - - AMD SILVER - - AMD PLATINUM - - AMD

Eurozone Economy Faces More "Prolonged Sag", Mario Draghi Warns

Financial Times

Mario Draghi said the eurozone economy faced a much more "prolonged sag" than was expected even a few months ago, as the European Central Bank president justified the monetary stimulus he announced this month, FT reports.

Mr Draghi’s comments came after a key survey of business executives showed that the eurozone’s economy was close to stalling, dragged down by a steep drop in German manufacturing activity. The new data hit markets and prompted predictions of imminent recession on Monday.

The purchasing managers’ index (PMI) for the eurozone fell to a six-year low of 50.4 in September, below forecasts and down from 51.9 in August. The figures, produced by IHS Markit, offer a closely watched snapshot into private sector activity. A reading below 50 signifies economic contraction.

Other materials on this subject

Other materials on this subject


Most read

day

week

month

    Weather
    Yerevan
    cloudy
    Humidity: 25%
    Wind: 0.51 km/h
    16 C°
     
    20°  10° 
    30.03.2024
    20°  10° 
    31.03.2024