The latest data on the Eurozone's economic activity indicates a significant upturn, particularly in the services sector.
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The Eurozone has left its technical recession behind. The latest data shows an increase in gross domestic product (GDP) of 0.3 in the first quarter of 2024 compared to the previous quarter.
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The Eurozone's economic outlook is showing signs of positive development as the latest Purchasing Managers' Index (PMI) data, released on April 23, 2024, points to an acceleration in growth.
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The December 2023 PMI (Purchasing Managers' Index) for the Eurozone, reveals a continued economic downturn across the region.
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On Monday, Asia-Pacific markets saw gains despite China's factory activity remaining in contraction territory for the fourth consecutive month in July.
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Eurozone's underlying inflation, a crucial indicator of price increases monitored by the European Central Bank, showed a stronger acceleration than initially reported in June.
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In the week ahead, notable events and data releases are anticipated globally. The United States will closely monitor the Federal Reserve's announcement and updated economic projections from the FOMC on June 14th.
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