The European economy may finally be exiting its longest post-war recession but entering a period of stagnation or very weak growth at best, latest data suggest. The purchasing managers index (PMI) for the euro zone rose to a 15-month high of 48.9 in June. Germany’s PMI rose 0.7 point to 50.9, signalling modest growth. France’s score also rose but remained below 50.
Continue reading “Europe Hits Bottom But Unlikely to Bounce Back – ITTO European Market Report 30th July 2013”Some Improvement in Economic Sentiment in Europe, But Conditions Very Fragile – ITTO European Market Report 15th July 2013
Economic sentiment in Europe improved a little during the second quarter of 2013. Talk of a possible “depression” and euro-collapse has receded into the background. Nevertheless overall economic conditions remain fragile and the construction sector, the major driver of wood demand, is still deep in negative territory.
Continue reading “Some Improvement in Economic Sentiment in Europe, But Conditions Very Fragile – ITTO European Market Report 15th July 2013”