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🇪🇺 The stagflation trap the ECB spent two years escaping is back
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🇪🇺 The stagflation trap the ECB spent two years escaping is back

Macro Soup Newsroom Macro Soup Newsroom 3 min read

Eurozone Services PMI fell to 47.6 in April, one of the sharpest single-month drops since 2022, while PPI surged 3.4% MoM on an 11.1% energy spike. Germany's index dropped to 46.9. Next week's CPI flash is the first test of whether that cost shock is passing through.

3D graphic of a blue map of Europe with EU stars on a white wall, large metallic 'EUR' letters in the foreground, and STP Trading logos.
Eurozone composite PMI fell to 48.8 in April, the first contraction in private-sector activity in nearly 18 months. Source

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