Euro zone PMIs to offer clues on bloc’s exit from recession
Wednesday, July 24, 2013 - 03:24
July 24 - The first glimpse into Q3 economic activity across the euro zone comes with flash PMI figures for July. Economists polled by Reuters generally expect continued contraction, but at a slower pace.
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Eurozone PMI numbers for July just it's and that -- the region has something to cheer up. Manufacturing going again and got a 24 month high. Joining me now does not -- senior economist rob Dobson wrote all about money fronting a two -- -- the composite PMI responding it's an eighteen month high clip as well. Is this proof positive that the recessions of. This is what what taping what we were saying with lost most of his list of what we what -- -- keys that he received US and state laws may be coming in some growth in key thing. And what was seen these numbers is definite signs to begin quartet the US and could well be heading in the right direction there. And the largest rise in manufacturing IP you -- those. For manufactured goods up and done that both the first sign into -- -- -- -- looking indicators are all also -- -- song that's the case and what we're seeing used to seeing stabilization in the domestic market particularly satisfied Jimmy. But also what we -- it cost to do with him in countries such as a whole. As for increased new expo this below this is Clinton into -- I'm finished the US -- Christmas here in recent months. But again this justice of dissident -- to base stuff which just -- hopes of stability. Some of the boot and the dates of a putt from Spain -- -- -- -- the current account deficit is shrinking rapidly by the moving in some countries moving into substance -- because of collapsing the mine's on because as you say maybe some exports in these countries are starting to accelerate. I think it's very much a combination of the tape. But what we've seen in recent payment date releases is an an expo let us move toward stabilization in the peripheral countries. And the places that should -- And these numbers again what we've seen is we've seen outside the big two economies we've seen -- export is growing for example and European markets when your expert told -- -- -- was encompasses a book fifty Cummings Chris coming from a variety of such as. In the perfect that the question -- courses is this sustainable. Does lieutenant -- this forward looking indicators were not expecting it spectacular plays and I thought that's. But this still suggests that the eurozone should be coming to at least stabilization. And possibly can I think -- things. I'll accept that and docile positive news to be welcome down 76 and activity slowing yet again. Why is not well. It's still in contraction what we see his -- and that's come to an eighteen month high. It's only slightly below about fifteen and change -- indicates that you consider Santa is showing signs of stabilization. And again this is coming this -- post relative to domestic markets and many these nations starting to stabilize. And that's gonna have a benefit to just keep it coming grace. At least -- staple. -- and all this is the first that sense of Q3 up any of the major -- Reports -- it will exit -- so GDP estimate on this it's true it's put an outright. This is gonna be even on the pick four on -- -- what was it. Seeing here is definite signs that this continues to say it quoted that the US and should come out of recession. And we scientific minds is it but still given that we've had some -- this event next to Chris across the region. Anything that can be tapped as opposed to themselves and -- rob thank you very much. How -- must another line Jamie gave up this is what is.
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