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☆ US business activity ticks up while euro zone gauge fans recession fears
  + stars: | 2023-10-24 | by ( Dan Burns Jonathan Cable | Dan Burns | Jonathan Cable | ) www.reuters.com   time to read: +6 min
In the United States, the manufacturing sector pulled out of a five-month contraction on a pickup in new orders, and services activity accelerated modestly amid signs of easing inflationary pressures. HEADACHE FOR THE ECBIn the euro zone, business activity drooped as demand fell in a broad-based downturn across the region, causing the bloc to enter the fourth quarter on the wrong foot and suggesting it may slip into recession. "The flash PMIs mark a poor start to October for the euro zone, especially after showing some early signs of recovery in September," said Rory Fennessy at Oxford Economics. Suggesting a recession is well underway in Germany, Europe's largest economy, business activity contracted there for a fourth straight month as the downturn in manufacturing was matched by a renewed decline in services, its PMI showed. In France, the euro zone's second-largest economy, business activity remained in contraction territory in October, PMI data showed, improving just slightly from September's near three-year low.
Persons: Rebecca Cook, Chris Williamson, Christine Lagarde's, Rory Fennessy, Williamson, Ajay Banga, Dan Burns, Jonathan Cable, Lindsay Dunsmuir, Andrea Ricci Organizations: Ford Rouge Electric Vehicle, REUTERS, P Global, Composite, Federal, Commerce Department, Reuters, P, P Global Market Intelligence, P Global PMI, September's, European Central Bank, Oxford Economics, PMI, European Union, Bank of, Palestinian, Hamas, Thomson Locations: Dearborn , Michigan, U.S, United States, joblessness, Germany, Europe's, France, September's, Britain, Gaza, Ukraine
☆ U.S business activity downturn eases slightly; euro zone back to growth
  + stars: | 2023-01-24 | by ( Dan Burns Jonathan Cable | Dan Burns | Jonathan Cable | ) www.reuters.com   time to read: +5 min
REUTERS/Kamil KrzaczynskiSummary U.S. business activity better than expected, but remains softEuro zone posts surprise return to modest growthBritain PMI falls at fastest rate in two years, surveys showNEW YORK/LONDON Jan 24 (Reuters) - The downturn in U.S. business activity eased slightly in January even as it contracted for the seventh straight month while euro zone business activity made a surprise return to modest growth, as two of the world's major economies hope to avert recession this year, surveys showed on Wednesday. Reuters Graphics Reuters GraphicsEURO ZONE BOUNCES BACKThe Euro zone is showing more resilience. Business activity there made a surprise return to modest growth in January, adding to signs the downturn in the bloc may not be as deep as feared and that the currency union may escape recession. In France, the bloc's second-biggest economy, output fell slightly overall again in January, its PMI showed, but manufacturing activity improved for the first time since August. In the Euro zone, there was mixed news on inflation pressures, according to the PMI survey.
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