The Euro Area’s economic woes deepen as it faces its lowest PMI levels in nearly three years, raising concerns of a looming recession. Euro zone banks are tightening credit standards due to worsening economic conditions and rising interest rates, resulting in significant credit tightening.
#Eurozone #PMI 📉 👀t.co/kbzBfUfarU pic.twitter.com/2jLAhRwIZa
— Invariant Perspective (@InvariantPersp1) October 24, 2023
#Eurozone #GDP 📉 👀t.co/UvtcPTeMRp
— Invariant Perspective (@InvariantPersp1) October 24, 2023
🇪🇺 Banks in the euro zone tightened credit standards further in the third quarter due to rising interest rates and a worsening economic backdrop, the European Central Bank said – Bloomberg
➡ The cumulative net tightening of credit standards since 2022 “has been substantial,… pic.twitter.com/vwZfGppYCA
— Christophe Barraud🛢🐳 (@C_Barraud) October 24, 2023
🇪🇺 *EURO-AREA OCT. MANUFACTURING PMI 43; FORECAST 43.7 – BBG
*EURO-AREA OCT. SERVICES PMI FALLS TO 47.8; FORECAST 48.6
*EURO-AREA OCT. COMPOSITE PMI FALLS TO 46.5; FORECAST 47.4➡ #Inflation: "Despite some upward pressure on costs from higher oil prices, the rate of inflation…
— Christophe Barraud🛢🐳 (@C_Barraud) October 24, 2023
#recession … #GFC2 France #PMI edition
French #manufacturing plunging at an even faster rate 📉 👀 t.co/Gyt5TCT3By
— Invariant Perspective (@InvariantPersp1) October 24, 2023
#recession … #GFC2 Germany #Services #PMI edition
German economy contracting even faster now 📉 🥶 t.co/bJQntZkUp3 pic.twitter.com/0nKq7QC6JF
— Invariant Perspective (@InvariantPersp1) October 24, 2023