The economic
activity of the companies of the Eurozone grows they maintain the solid rhythm
of advances until maxima of four and a half years. The Final Compound Index of
Total Activity of the (PMI) of the area euro it ascended lightly until the 54,2
points from October 53,9 and in front of the 54,4 foreseen by the analysts, but
he stays in the area of growth, above the 50 points, for tenth ninth serial
month. Well if the specialists want to call to this there since growth them I
would call it stagnation tins in a total plane line and this plane line is not
for an activity recovery but for the actions about the European economy of the
BCE
The PMI of
services kept the same punctuation (54,2), with an ascent hardly imperceptible
regarding October (54,1), and also below precisions (54,6), as it is extracted
of the report that publishes today “Markit”. In spite of the slight advance,
the rhythms of expansion of the production, the new orders and the employment
accelerated until, or near their maxim of four and a half years and November
was a positive month for the economic recovery of the area euro. The turnaround
of the PMI of November pushes the growth of the area euro in its group until
its maxim of four and a half years, in spite of the weakness of France. A new
modest increase of the pending orders of realization also suggests that the
solid growth can continue at the end of the year, it points out the agency that
elaborates the report.
The expansion
of the economic activity in November was distributed evenly between the sector
manufacturer and the sector services, since the rhythm of growth of the
activity of the sector services was hardly located above the one reached by the
production manufacturer. All the countries registered an expansion of the
economic activity, except for France. Ireland stayed in head (60,2), followed
by Spain (56,2) in maxima of four three months, respectively. The German
economy (55,2) he expanded to the quickest rhythm from passed March, while the
Italian production (55,3) it increased to the strongest rhythm in three months.
France goes back to 51 points, minima of three months.
Exposed it
seems this way interesting but the certain thing is that the growths take place
not so much for the production increase but for the stability of low prices the
production doesn't start up he stays with the help of lowering mainly salary
costs with what doesn't pull up the consumption neither, Chris Williamson,
economist boss of the “Markit” and author of the report, he believes that the
reading of the PMI of November is positive. We have a reliable indication of
the economic growth of the fourth trimester, and the turnaround of the PMI
indicates that the GDP of the area euro has been increased 0,4% quarterly.
But behind all
these figures that they are simply saying that the European production is
stabilized the restlessness of the BCE it stands out about the stability of the
prices that demonstrates what I tell them the projection of the study that the
prices means gotten paid by goods and services have diminished for second
serial month, what indicates for the BCE that the growth is not showing
indications of generating inflation. This phenomenon for the productive economy
what indicates is that he holds back thanks to not going down prices to
increase sales.
A clear example
of what I say is what passes with the Spanish economy that is boasting of being
ascending more than that waited when the reality indicates that it doesn't go
up the unemployment, this continuous one in the same real levels (we don't
justify the official data because every time there are more people outside of
the unemployment lists) possible closings of companies an and another time they
are announced, you finish them Abengoa and BASF that he closes in 2017 the only
plant chemistry that there is in Spain
The German
economic institute IFO notices that the growth in Spain is spurred in certain
measure by the public deficit that continues being above the limits fixed by
the European Commission (CE). I am "very sceptical on the politics of
indebtedness", he has said today the president of the IFO, Hans-Werner
Sinn, hawk of the budgetary austerity, after referring to Spain and other
economies from the Eurozone when presenting its economic forecasts for this
year and the one that comes and he adds that this concern extends to Germany
and the world.
The economist
assures that the macroeconomic situation in Spain has improved
"sensibly" in the last years, but in certain measure he is due to the
public indebtedness that indicated that it is located "above 5% ".
The deficit is as the "doping" in the sportsmen that it improves the
short term results to coast of worsening long term the macroeconomic square.
The public indebtedness is able the demand added presently still to coast to
increase that he contracts in the future", he argues. The problem is that
the objective of the countries should not be to achieve a good one been now,
but assuring its survival and sustainable, the expansible monetary politics
that he is practicing the European Central Bank, disincentive the setting in
march of structural reformations when reducing the money and, in consequence, it
foments the indebtedness.
Luis De
Guindos, Spanish minister of Economy, has assured that it would be an error to
request an extension to fulfill the fiscal objectives to those that the
Government has committed with the European Union and that they force to locate
the public deficit below 3% next year. The minister has assured that he doesn't
find reasonable to request a postponement to fulfill the European fiscal goals,
(like they proposed yesterday PESOE and WE CAN in an electoral debate for the
elections of the 20D). I don't find reasonable, because Spain is in the path of
completing.
Spain will turn
this year and it will complete the one that comes. And next year we will
already leave the arm corrective of the procedure of excessive deficit. Therefore,
I believe that it would be behind a march important", he has affirmed De
Guindos in Brussels, minutes before the beginning of the meeting with their
homologous of Economy and Finances of the European Union. The problem is that
Mr. De Guindos it won't be in the next government from Spain it wins or not
their party the PP, that is to say we are saying what the markets and the CE
want to hear
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