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A new recession 'is approaching in Europe'

1st December 2011

The eurozone could be set to enter into a second recession, as the region's larger economies are now beginning to show signs of weakness, it has been revealed.

A report published by Standard & Poor (S&P) has shown the composite Purchasing Managers Index for the eurozone dropped from 49.9 points in September to 47.2 points in October, highlighting a fall in new manufacturing orders and lower productivity across the region.

"Europe's approaching recession first took hold in Spain, Portugal and Greece and the economic woes are now spilling over into the eurozone's core of France and Germany," commented S&P economist in Europe Jean-Michel Six.

This news follows recent comments by Jason Gaywood, consultant at currency specialists HiFX, who claimed the euro is facing serious issues of investor confidence at present.

Mr Gaywood noted emerging rifts between the larger EU economies and smaller member states are holding back forex trading performance.
 

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76.3% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.