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In view of analysis team at BNP Paribas, Eurozone’s economic slowdown is continuing, especially in Germany, due to notably international environment uncertainties and a slowdown of the Chinese economy.

Key Quotes

“Activity in the manufacturing sector continues to decline but services still show resilience.”

“Inflation is now expected to decrease while core CPI is hardly moving. The activity slowdown also implies that the pick-up in core inflation should be slower than expected until recently.”

“Faced with an outlook of subdued inflation, the Governing Council has eased policy at its meeting on 12 September. This very accommodative environment will be maintained as long as inflation hasn’t converged sufficiently, in a convincing and lasting way, towards the ECB’s objective.”