“The eurozone economy is struggling to gain momentum. For six months now, growth has been minimal, with activity in the service sector stagnating and manufacturing output rising only moderately,” Cyrus de la Rubia, chief economist at Hamburg Commercial Bank.
“In Germany, there are signs of a cautious improvement in the situation, but France continues to drag its feet”.
The expansion in the 20-country currency area was centred on the manufacturing sector, where production increased for the fourth successive month, according to the survey.
Good point. But I also think we should look sector-to-sector at growth. Or, better, develop better metrics. There is a lot of BS in GDP (like, introducing a vaccine might easily have a “negative” impact on GDP, since it is more cost effective than curing the disease once it happens, and thus causes less expenditure). But there are activities we would like to grow (like, renewable energy manufacturing or a big chunk of the medical field).
And FYI, here are the updated statistics on trade with China, seems to be stagnating (maybe outsourcing to new “rising markets”)?
https://ec.europa.eu/eurostat/statistics-explained/index.php?title=China-EU_-_international_trade_in_goods_statistics