EURL - ECB Sees Downside Risks As PMI Shows Eurozone Close To Stalling
The release of disappointing flash Eurozone PMI data on the same day that the European Central Bank's Governing Council acknowledged that downside risks now prevail has focused minds on the health of the euro area economy. The new debate centres on how entrenched the recent slowdown is, and in this respect, the survey data suggest slim hopes of a swift rebound.
Economy close to stalling
The flash IHS Markit Composite PMI for the euro area fell to 50.7 in January, its lowest since July 2013. At this level, historical comparisons indicate that GDP is growing