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Eurozone Looking Better

September 22nd, 2019 Interview.

People are convinced that the Eurozone is going into recession, but our work tells us that’s too pessimistic because it’s too simplistic.

German GDP went slightly negative and their manufacturing PMI looks bad, but ECRI’s research shows that economic growth is turning up in countries like France, and away from German manufacturing which remains in the crosshairs of the Chinese industrial slowdown.   

Hence, it’s interesting that while Draghi seemed intent to go all out in easing monetary policy he got major pushback within the ECB committee, not only from Germans, Dutch and Austrians, but even from the French.

Watch the full interview.

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