German recession fears grow as factory orders tumble – business live | Business – Business Article

Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. Concerns over the health of the German economy are mounting this morning, after Europe’s largest economy suffered another big fall in manufacturing orders. Germany factory orders plunged by 1.6% in December, new figures released this morning show, due to weak demand from overseas. That’s much worse than the 0.3% rise which economists had expected, and follows a 0.2% decline in November.…

Read More

Italy falls into recession as eurozone economy struggles – business live | Business – Business Article

The Italian economy slipped into recession in the final three months of the year, weighing on the wider eurozone’s growth, official figures showed Thursday. The Italian statistics agency said that Italy, the third-largest economy in the 19-country eurozone, contracted by a quarterly rate of 0.2% in the fourth quarter. Following a 0.1% drop in GDP in the previous three-month period, that means Italy is in a technical recession, defined as two straight quarters of economic contraction. The Italian economy has…

Read More

UK consumers shun credit cards as Brexit looms – business live | Business – Business Article

French riot police clash with Yellow Vests protesters at the Place de la Bastille Photograph: Alfred Photos/SIPA/REX/Shutterstock Good morning, and welcome to our rolling coverage of the world economy, the financial markets, the eurozone and business. With gloom gathering over Europe, France has given the eurozone a much-needed boost by beating growth forecasts for the last quarter. French GDP expanded by 0.3% during October-December, new figures show, crushing fears that growth could have fallen to just 0.1%. That matches France’s…

Read More