Jeffrey: Euro was Doomed from Day One
The euro-area economy is losing steam as political uncertainty looms large over the 19-nation region. A Purchasing Managers’ Index for the manufacturing and services sector slid to 52.6 in September from 52.9 in August, London-based IHS Markit said on Wednesday, confirming a Sept. 23 estimate. That’s the lowest level since January 2015. A reading above 50 signals expansion. Policy makers are struggling to shore up growth and inflation in a region increasingly beset with populist political movements. Ahead of national votes in some of the bloc’s largest economies, challenges from how to deal with the U.K.’s decision to leave the European Union to integrating migrants into a workforce strapped by high unemployment need to be met. Bloomberg's Mark Gilbert joins Cazenove Capital Management Chief Economist Richard Jeffrey and Francine Lacqua on "The Pulse" to discuss further.