The Euro exchange rate movement on the world market shows that the EUR/USD index is currently at 1.0885, up 0.0014 points, equivalent to 0.13% compared to the previous session.
The euro has risen again today after yesterday's (August 17) weakness. In early August, the European Statistics Agency released its Retail Sales Index, which showed that the volume of retail goods in the region continued to decline in June. Detailed retail sales data show European consumers continue to run out of spending leeway.
Retail transactions in the eurozone, which includes the 28 member states of the European Union, fell 0.3% month-on-month in June, down 0.2%, with consumer demand very weak.
The Eurozone Purchasing Managers Index (PMI), compiled by Germany's Hamburg Commercial Bank and S&P Global, fell to 48.9 in July from 49.9 in June. The PMI is considered a "measure of health" for the economy, and the economy is recognized as growing only when the index exceeds the 50 point threshold. The above PMI is therefore a worrying indicator, especially for the Eurozone economy and for Europe as a whole.
The fact reflects that the Old Continent's economy will continue to contract in the coming months as the service sector loses growth momentum.
In another sign of regional economic "sickness," eurozone credit demand has fallen to its lowest level in 20 years.
The European Central Bank (ECB) has released the results of a quarterly survey showing that demand for corporate credit in the eurozone has fallen significantly. Eurozone banks also reported a decline in demand for mortgages in the second quarter, although not as much as in the previous quarter, on the back of a weak property market. The survey also shows growing pessimism among eurozone households and a decline in demand for consumer credit.
The euro has risen again today after yesterday's (August 17) weakness. In early August, the European Statistics Agency released its Retail Sales Index, which showed that the volume of retail goods in the region continued to decline in June. Detailed retail sales data show European consumers continue to run out of spending leeway.
Retail transactions in the eurozone, which includes the 28 member states of the European Union, fell 0.3% month-on-month in June, down 0.2%, with consumer demand very weak.
The Eurozone Purchasing Managers Index (PMI), compiled by Germany's Hamburg Commercial Bank and S&P Global, fell to 48.9 in July from 49.9 in June. The PMI is considered a "measure of health" for the economy, and the economy is recognized as growing only when the index exceeds the 50 point threshold. The above PMI is therefore a worrying indicator, especially for the Eurozone economy and for Europe as a whole.
The fact reflects that the Old Continent's economy will continue to contract in the coming months as the service sector loses growth momentum.
In another sign of regional economic "sickness," eurozone credit demand has fallen to its lowest level in 20 years.
The European Central Bank (ECB) has released the results of a quarterly survey showing that demand for corporate credit in the eurozone has fallen significantly. Eurozone banks also reported a decline in demand for mortgages in the second quarter, although not as much as in the previous quarter, on the back of a weak property market. The survey also shows growing pessimism among eurozone households and a decline in demand for consumer credit.
