European markets open in negative territory as recession fears return
2019-08-22 07:44 am | Resource: News | No Views : 26
European markets opened in negative territory on Thursday amid fears of a recession caused by the reversal of the short yield curve in US bond markets, which occurred for the second time in a week. The reversal was preceded by the release of the minutes of the Fed meeting in July, when officials cut interest rates for the first time in a decade. Later in the day, the European Central Bank was to release its monetary policy meeting account.
In Italy, President Sergio Matarella will meet with leaders of the country's main parties in the hope of forming a new coalition government after the collapse of the previous government.
German manufacturing fell in August
On the data front, IHS Markit said on Thursday that German private sector purchasing managers reported an expansion in their activity this month as the non-manufacturing sector narrowed to a seven-month low, adding that he learned from producers that their production had fallen but less than a month. July. The composite index advanced half a point to 51.4, compared to the 50-point neutral mark.
The Services component decreased by only 0.1 points to 54.4. The manufacturing headline came in at 0.4 points stronger at 43.6 and production rose 1.6 points to 45.8 still somewhat weak.
Senior economist Phil Smith said that the services data, "despite a slight improvement, did not change the output data of the study enough to eliminate the risk of another slight contraction in GDP in the third quarter, especially in view of the deterioration of forward-looking indicators ... cracks began Elsewhere in the show added with new labor flows barely rising in August, business confidence is at its lowest level in nearly five years' with a decline in manufacturing expectations to a record low and steady employee.
Swiss industrial output growth improved in the second quarter
On the data front, Swiss industrial production grew at a faster pace in the second quarter, the Federal Statistical Office said Thursday.
Industrial production rose 4.8% year on year in the second quarter, after a 4.5% rise in the previous quarter. This was the fastest annual increase in the year.
The data showed that industrial production rose 5.7% in June, 4.9% in May and 3.8% in April.
European stock openings
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