|2022/07/01 / Erste Group Research|
Downside risks for the economy increase
Already last week, the PMI survey data in manufacutring and in services showed unexpectedly heavy gloominess. Moreover, this week, consumer confidence in the Eurozone fell to a low level similar to that seen at the beginning of the pandemic outbreak in early 2020.
Against this backdrop, the downside risks to the Eurozone economic outlook have increased sharply in recent weeks. With leading indicators weakening at the global level as well, the downward pressure on Eurozone growth is further intensified.
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|Author||Erste Group Research|
|Product name||Week ahead|
|Topic in focus||Macro/ Fixed income|
|Economy in focus||Eurozone, United States|
|Currency in focus||Euro, US Dollar|
|Sector in focus||-|
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