Reuters - Video

EDITION: U.S. | U.K. | IN

Finance Videos

Euro zone factory slump worsens

Wednesday, January 02, 2013 - 01:36

Jan.02 - Orders were still down at the end of 2012, keeping PMI figures below the crucial point that marks growth, but Italy's manufacturing hit a nine-month high, and Ireland showed signs of growth. Joanne Nicholson reports

▲ Hide Transcript

View Transcript

TV AND WEB RESTRICTIONS~****~ The numbers point towards a deeper recession. Factories in the euro zone didn't get the orders they'd hoped for. In December manufacturing on the purchasing Managers' Index dropped point 1 from 46.2. It's been below the golden 50 mark that divides growth from contraction since August 2011. Germany's manufacturing sector shrank for a 10th month, while in France the decline continued for a 17th month. Only Italy offered a glimmer of hope. Its manufacturing hit a nine month high, although still below that 50 mark. Christian Schulz is an economist at Berenberg Bank SOUNDBITE (ENGLISH) CHRISTIAN SCHULZ, SENIOR ECONOMIST, BERENBERG BANK, SAYING: "Italy is clearly not out of a recession yet but talking about fiscal cliffs and fiscal austerity, the Monti government over the last year has imposed enough austerity and made enough fiscal adjustments for Italy not to need more austerity in 2013 and that should help the economy to turn around and grow again." Ireland was the only country to see growth in manufacturing but the US fiscal cliff drama makes any positive results precarious. SOUNDBITE (ENGLISH) CHRISTIAN SCHULZ, SENIOR ECONOMIST, BERENBERG BANK, SAYING: "The most exposed countries to the US are Ireland by far, and then the UK. The other big European exporters usually export about 6 percent of their goods exports to the other side of the atlantic so they are also going to have a positive impact and we have to keep in mind that the US is not just directly important but also China exports a lot to the US and imports a lot from countries such as Germany." And while the US economy looks to slow in 2013, it will still outperform Europe.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

Euro zone factory slump worsens

Wednesday, January 02, 2013 - 01:36

Editors' Picks »

Most Popular »

Business »

Moving Pictures »

Dance of the northern lights Dance of the northern lights

Mon, 20 Oct, 2014 - (1:08)

Images of September Images of September

Thu, 02 Oct, 2014 - (1:00)

Still missing – MH370 Still missing – MH370

Fri, 05 Sep, 2014 - (2:05)

Burning Together Burning Together

Mon, 01 Sep, 2014 - (2:23)

Mending dolls, teddies and hearts Mending dolls, teddies and hearts

Fri, 22 Aug, 2014 - (3:12)

Images of August Images of August

Fri, 29 Aug, 2014 - (1:00)

"Old timers" sail the Chesapeake Bay "Old timers" sail the Chesapeake Bay

Mon, 11 Aug, 2014 - (2:27)

Burned memories Burned memories

Fri, 08 Aug, 2014 - (3:02)

Images of July Images of July

Fri, 01 Aug, 2014 - (1:20)

Oddly Enough »

Skateboards get rock star makeovers Skateboards get rock star makeovers

Thu, 23 Oct, 2014 - (1:28)

Giant rubber duck on show in Shanghai Giant rubber duck on show in Shanghai

Thu, 23 Oct, 2014 - (1:06)

Black bear cub goes Sunday shopping Black bear cub goes Sunday shopping

Thu, 23 Oct, 2014 - (0:27)

Christie's opens new Shanghai office Christie's opens new Shanghai office

Wed, 22 Oct, 2014 - (1:13)

White lion cubs unveiled to the public White lion cubs unveiled to the public

Tue, 21 Oct, 2014 - (1:01)

Ebola Halloween getup stirs controversy Ebola Halloween getup stirs controversy

Tue, 21 Oct, 2014 - (1:14)

Cuddly Ebola toy almost wiped out Cuddly Ebola toy almost wiped out

Mon, 20 Oct, 2014 - (0:34)

New MoMA exhibit cut out for Matisse New MoMA exhibit cut out for Matisse

Thu, 16 Oct, 2014 - (1:28)

London's Frieze art fair tests your senses London's Frieze art fair tests your senses

Thu, 16 Oct, 2014 - (1:28)

Paris streets become gallery for Plato-inspired sculptures Paris streets become gallery for...

Wed, 15 Oct, 2014 - (1:21)

Reuters Investigates »

Re-homing victim: "I could have been dead" Re-homing victim: "I could have been dead"

Wed, 19 Feb, 2014 - (8:24)

Cops and loggers in the Amazon rainforest Cops and loggers in the Amazon rainforest

Fri, 10 Jan, 2014 - (4:01)

"Passed around like a dog" "Passed around like a dog"

Thu, 29 Aug, 2013 - (6:32)

Adopted, then abandoned online Adopted, then abandoned online

Thu, 29 Aug, 2013 - (13:21)

How the DEA keeps its secrets secret How the DEA keeps its secrets secret

Mon, 05 Aug, 2013 - (1:36)

How education lost its role as the great equalizer - Reuters Investigates How education lost its role as the great...

Mon, 17 Dec, 2012 - (7:52)

Jihad Jane: From abused child to American jihadist - Reuters Investigates Jihad Jane: From abused child to American...

Sun, 09 Dec, 2012 - (10:01)

Jihad Jane: The order to kill - Reuters Investigates Jihad Jane: The order to kill - Reuters...

Mon, 10 Dec, 2012 - (10:39)