Worst of Europe’s Factory Slump May Soon Be Over, Berenberg Says
- ‘First glimmers of hope’ for region follow sustained downturn
- Case for optimism assumes that inventory correction will end
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The euro zone’s factory slump may be close to its nadir as the downturn in global industrial demand shows signs of stabilization, according to Berenberg.
In a report on Tuesday pointing to “first glimmers of hope,” Holger Schmieding, an economist at the German bank, said there’s reason to believe that a contraction in gross domestic product during the current quarter will be followed by a recovery.