Market Outlook: Eurozone Economy to End 2024 on a Weak Note

Forex - Paolo Grignani, an economist at Oxford Economics, stated that the recent decline in PMI data indicates that the Eurozone economy will finish 2024 on a weak note. According to Grignani, significant recent internal and external political developments—such as President-elect Trump's victory in the U.S. elections, the collapse of the ruling coalition in Germany, and the current fragility of the French government—may have played a role. “However, the gloomy state of the current economic environment should not be underestimated,” Grignani emphasized, noting that new orders have decreased both domestically and internationally, while employment has shown a slight decline for the third consecutive month.