Australia  

Weak euro zone data backs Draghi's plan for more stimulus

Video Credit: Reuters Studio - Duration: 01:31s - Published
Weak euro zone data backs Draghi's plan for more stimulus

Weak euro zone data backs Draghi's plan for more stimulus

French growth slowed unexpectedly in the second quarter on weaker household spending and German consumer morale worsened for the third month in a row heading into August, adding to signs that the euro zone economy as a whole is cooling.

David Pollard reports.

France saw hot record temperatures this month but its economic thermometer has been slipping.

A meager 0.2% rise in GDP in Q2 comes on the back of weaker household spending.

In neighboring Germany, it's carmakers that have been feeling the heat, new emissions regulations and global tariffs hitting hard.

Now a new readout on consumer confidence stokes fears that a recession in heavy industry could be spreading.

ECB chief Mario Draghi expressed just such a fear at last week's policy meeting, as he all but promised a rate cut in September.

(SOUNDBITE) (English) EUROPEAN CENTRAL BANK PRESIDENT, MARIO DRAGHI, SAYING: "This outlook is getting worse and worse.

And it's getting worse and worse in manufacturing especially.

And it's getting worse and worse in those countries where manufacturing is very important." Not just Europe is suffering: Japan's central bank on Thursday (July 25) committed to further stimulus, if a global slowdown persists.

And amid the continuing tariff war, China's factories appear set for a 3rd month of contraction.

But for Europe, it could point to further weakness ahead.

Germany's GFK consumer confidence reading is the lowest since April 2017.

And another survey shows euro zone economic sentiment is worse than it's been in three years.

PMI data last week suggests the bloc will expand just 1% or so this year.

GDP readings for the bloc - out Wednesday (July 31) - may show whether even that is hopeful.




You Might Like


💡 One News Page Knowledge: Other News Mentions

Germany Germany Country in Central Europe

East German town offers to take in migrants despite AFD popularity in region [Video]

East German town offers to take in migrants despite AFD popularity in region

Despite the popularity of the far right Alternative for Germany in the region, the east German town of Neuruppin has said it is keen to welcome migrants to move to and settle in the town. View on euronews

Credit: euronews (in English)    Duration: 01:25Published
Environmental protesters break into German coal mine [Video]

Environmental protesters break into German coal mine

The demonstrators say the government's commitment to abandon fossil fuels by 2038 is not serious enough. View on euronews

Credit: euronews (in English)    Duration: 01:10Published
Highly detailed map of the human heart could guide personalized heart treatments [Video]

Highly detailed map of the human heart could guide personalized heart treatments

Scientists have created a detailed cellular and molecular map of the healthy human heart to understand how this vital organ functions and to shed light on what goes awry in cardiovascular disease. The work, published in the journal Nature, was led by investigators at Harvard Medical School, Brigham and Women's Hospital, the Wellcome Sanger Institute, Max Delbruck Center for Molecular Medicine (MDC) in Germany, Imperial College London and their global collaborators. The team analyzed almost a half million individual cells to build the most extensive cell atlas of the human heart to date. The atlas shows the huge diversity of cells and reveals heart muscle cell types, cardiac protective immune cells and an intricate network of blood vessels. It also predicts how the cells communicate to keep the heart working. The research is part of the Human Cell Atlas initiative to map every cell type in the human body.

Credit: ANI    Duration: 01:34Published

Tweets about this


Related videos from verified sources

Weak euro zone data backs Draghi's plan for more stimulus [Video]

Weak euro zone data backs Draghi's plan for more stimulus

French growth slowed unexpectedly in the second quarter on weaker household spending and German consumer morale worsened for the third month in a row heading into August, adding to signs that the euro..

Credit: Rumble     Duration: 01:32Published