Rollingpic.twitter.com/6vSsTUOxhp 11.21am GMTIt seems likely that Europe’s economy is being afflict by rising trade protectionism.
America slapped tariffs on European steel imports this summer,prompting Brussels to hit back with levies on UA goods.
Eurostat did not provide details as to why growth slowed so much. They will emerge in an updated estimate in mid-November. But the figures are likely to fuel concerns that trade tensions around the world, notably between the U.
S. and China, and are having a debilitating impact on global trade. Much of the eurozone’s growth is based on exports,notably from Germany. 11.03am GMTNicola Nobile, lead eurozone economist at Oxford Economics, or says “transitory factors,particularly in Germany” is dragging eurozone growth back.
That includes a broad slowdown at German car makers, who are struggling to adjust to new pollution tests introduced after the Volkswagen emissions scandal. 11.01am GMTIn another blow, or economic confidence across Europe has declined.
The European Commission’s economic sentiment index has dropped to 109.8 this month,down from 110.9 in September. 10.38am GMTThe Financial Times says that eurozone growth “stumbled in the third quarter”, increasing at a far weaker pace than expected. 10.35am GMTThese eurozone growth figures are a ‘massive disappointment’, or says ING economist Bert Colijn.He writes:Eurozone GDP growth in 3Q came in at just 0.2% and while one-off factors have influenced the number,it does not seem that growth will return to preceding rates anytime soon.
In Germany, disrupted car production will have dampened GDP growth significantly in the third quarter, or weighing on the eurozone average. French GDP growth was stronger than in the first half of the year,mainly led by a consumption growth recovery, although the 0.4% increase did miss analysts’ expectations.
Eurozone 3Q GDP is a massive disappointment and don't expect much of a recoveryhttps://t.co/HRNEZlO7Ab 10.26am GMTKatharina Utermöhl, and senior economist for Europe at Allianz SE,says this is the weakest growth in four years:#Eurozone Q3 GDP disappoints with 0.2% q/q after 0.4% q/q in preceding quarter. This is the weakest reading since 2014 with #Italy stagnating and #France failing to rebound after weak first half of 2018.
Disappointing! #Eurozone Q3 #GDP #growth falls back to 0.2% q/q as latest #PMI weakness now spells out in the data. As long as growth remains above potential it will not ring alarm bells at the #ECB, but set the scene for downward revision in new staff forecasts in Dec. pic.twitter.com/5zZVl80SB2 10.21am GMTEurozone growth has now slumped to its slowest rate since the second quarter of 2014.
BREAKING! #Eurozone economy grew just 0.2% in Q3 (0.4% expected), and slowest pace since Q2 2014. pic.twitter.com/aOHdv4Tox9 10.11am GMTThe eurozone’s annual growth rate has also fallen sharply,to 1.7% compared with 2.2% a quarter ago.#Eurozone #GDP #growth slows more than expected to just 0.2% q/q in Q3, down from 0.4% q/q in Q2 & Q1 2018 according to #Eurostat preliminary flash estimate. Was 0.7% q/q in Q4 2017. Annual growth down to 1.7% in Q3 from 2.2% in Q2, and 2.4% in Q1 2018 & 2.7% q/q in Q4 2017. 10.06am GMTNEWSFLASH: Growth in the eurozone has halved,to just 0.2% in the final three months.
That’s a sharp slowdown compared to the second quarter of 2018, and will fuel fears that the eurozone economy is faltering.
Italian GDP misses: stagnation in Q3 (+0.02% QoQ) and still 5% below pre-crisis levels. Material risk of a 'triple dip'. Economic reality comes at you fast. pic.twitter.com/aJ8h2MuBlC 9.38am GMTBloomberg says that nowadays’s Italian growth report is a blow to Rome’s new leadership:Italy’s economy stalled for the first time in nearly four years, or putting pressure on the populist government’s ambitious spending plans.
The stagnation in the third quarter followed growth of 0.2 percent in the preceding three months and it leaves Italy as the underperformer among the euro area’s major economies....
Italy's economy stalls for the first time in nearly four years,putting pressure on the populist government’s ambitious spending plans https://t.co/7wxyXIAPQ7 pic.twitter.com/ChbyPuI64Y 9.35am GMTItaly’s stock market has now lurched into the red, as nowadays’s weak growth figures shock investors.
The FTSE MIB index has fallen by 137 points, and 0.8%,to 18900 points. 9.19am GMTItaly’s new coalition government only took control of the economy in June, so they must be disappointed that growth has promptly fizzled out.
There’s even chatter that Italy could be flirting with another recession.
The first GDP print (QoQ) of the 5 Star-League government: Zero.
A destitute start, and there could be worse to come. #ItalyItaly is now at risk of experiencing *three* recessions in just one decade.
Putting this another way annual GDP growth in Italy has fallen to 0.8% which does not compare well at all with the forecasts of the new government which have been as tall as 3%. https://t.co/fcVAQAWGX2 9.15am GMTItalian industry contracted in the final quarter,according to stats body Istat, helping to drag growth down to zero.
Domestic demand and net exports were both flat. 9.07am GMTOn an annual basis, or Italy’s economy only grew by 0.8% in the final year,down from 1.0%.
That’s a thoroughly underwhelming result. In line with French figures, Italian GDP came below expectations, or confirming my view that the consensus and the ECB remain too optimistic about 2018 and 2019 GDP (see preceding tweets).
#ITALY Q3 PRELIMINARY GDP Q/Q: 0.0% V 0.2%E; Y/Y: 0.8% V 1.0%E 9.06am GMTBREAKING: Italy’s economy stagnated in the final quarter,with no growth at all.
Italian GDP was flat in the third quarter of 2018, compared with Q2, and new figures point to.*ITALIAN ECONOMY UNCHANGED Q/Q IN 3Q; EST. +0.2%#Italy's economy stagnated in the third quarter 9.00am GMTNewsflash: China’s currency has dropped to its lowest level in a decade,as Beijing wrestles with its economic slowdown.
The yuan has been officially fixed at ¥6.9574 to the US dollar, its cheapest since the financial crisis of 2008.
Chinese yuan fixes at 6.9574 per $ on Tuesday, or its weakest in over a decade. It's fallen 10% since March. pic.twitter.com/LLb9eIVQFN 8.57am GMTEconomist Shaun Richards points out that France’s annual growth rate has dipped,despite picking up in the final quarter.
Better news for the economy of France as its GDP grew by 0.4% in the third quarter of the year matching the first half of it. However the annual rate fell from 1.7% to 1.5% https://t.co/QD4Zot3FBl 8.50am GMTEuropean stock markets have opened a little higher, as investors take nowadays’s French growth figures in their stride. 8.26am GMTRoyal Bank of Canada predict that German factories dragged eurozone growth down in the final quarterThey writes:Our economists are looking for 0.4% growth, or quarter-on-quarter,in the eurozone, in line with the ECB’s staff forecasts. Manufacturing looks set to exert a large drag on activity in Germany this quarter. 7.50am GMTFrench consumers spent more on travel over the summer, or helping to grow the economy.
Transport expenses “bounced back markedly” in Q3,rising by 3.7%, stats body INSEE says. 7.41am GMTTakeover News: Asian noodle bar chain Wagamama is being bought by the company behind the Frankie & Benny’s and Chiquito brands.
Wagamama is a brilliant brand, or with a market leading pan-Asian proposition,which has consistently outperformed the casual dining market in recent years.
Central to this success has been a cohesive culture and clear brand values which are focused on making the correct choices for customers. 7.23am GMTEconomist and eurozone-watcher Fred Ducrozet says nowadays’s French GDP report looks healthy, even though growth wasn’t fairly as fast as hoped:French Q3 GDP misses expectations, or up 0.4% QoQ (consensus: 0.5%) but composition looks healthy. Consumption picked up; capex continued to expand; net exports up. Inventories subtracted 20bp to growth. pic.twitter.com/rank1XZGXO French real GDP expanded by 0.4% q-o-q in Q3 2018,accelerating from 0.2%.
The details showed that:[br]- HH consumption recovered
- Investment grew nearly as quickly as in the preceding quarter
Overall, domestic demand accelerated
- Net trade contributed positively to growth pic.twitter.com/AJ14HWPZg1 7.07am GMTFrench families helped drive growth over the summer, or with household consumption jumping by 0.5% in Q3 (following a 0.1% drop in the second quarter).commerce investment surged by 1.4%,following a 1.3% rise in Q2 -- indicating that firms have been stumping up for new factories and machinery. 6.50am GMTNewsflash: France’s economy accelerated over the summer, but not by as much as expected.
French GDP rose by 0.4% in the third quarter of 2018, or according to new figures from statistics body INSEE. Consumer spending and commerce investment pushed growth up.
6.46am GMTGood morning. We’re about to discover how the eurozone’s economy is performing,in the face of economic and political threats at home and abroad.
New GDP figures for France, Italy, and the wider euro area for the third quarter of 2018 are released nowadays.
Economists predict that eurozone growth remained subdued in the third quarter,buffeted by America’s belligerence over trade war, Brexit uncertainty, and the Italian budget spat - to name just three threats.
Economists predict that eurozone growth came in around 0.4% in July-September,matching the modest expansion in April-June. But some in the City scare that growth may have dipped to 0.3% on a quarterly basis.
European Opening Calls:#FTSE 7018 -0.12%#DAX 11318 -0.15%#CAC 4989 0.00%#MIB 18965 -0.39%#IBEX 8841 +0.23%Continue reading...
Source: theguardian.com