ユーロ圏の成長は減速する

【今日イチNEWS】

本日のBloombregの一面を飾っているのは、ユーロ圏の経済が衰退しているという記事。

記事によると、ユーロ圏の経済は過去１年以上で最低水準まで低下し、成長がピークに達しているとのこと。

近年のユーロ圏の経済が上昇したことで、欧州中央銀行（ECB)がいつ、どのように支援プログラムをやめるのかを議論するようになっており、公的機関は、9月以降、債券購入プログラムが価格上昇圧力に転じると予想している模様。

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Euro-area economic momentum weakened to the lowest level in more than a year, adding to signs that the region’s growth spurt has peaked.

A composite Purchasing Managers’ Index dropped to 55.2 in March from 57.1 in February, IHS Markit said on Thursday. The reading is slightly below a flash estimate of 55.3, with the downward revision led by a worse-than-expected performance in services.

“Some pull-back from the elevated level of the PMI at the start of the year was always highly likely,” said Chris Williamson, chief business economist at IHS Markit.

He added that the gauge still points toward an “impressive” quarterly growth rate of 0.6 percent, and that the slowdown generally reflects fewer companies reporting improvements in business.

The euro area’s broad economic upturn has steered policy makers at the European Central Bank toward discussing when and how to withdraw extraordinary support. Officials are expected to wind down their bond-buying program after September as growth translates into higher price pressures.
Lately though, a number of reports have pointed to weakening economic output. Confidence among businesses and investors slipped as industrial production and construction declined.
With temporary factors such as bad weather and short-term capacity constraints contributing to the recent loss in growth momentum, “gauging the true extent of any slowdown is consequently difficult,” Williamson said.
The next survey “will therefore be particularly important in ascertaining true underlying growth momentum and in providing a steer on the likely timing of any ECB policy changes,” he said.

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