Eurozone Business Activity Falls On Mideast War

A euro currency sign is pictured inside the headquarters building of the European Central Bank (ECB) as a person walks by ahead of a press conference following the meeting of the governing council of the ECB in Frankfurt am Main, western Germany, on June 6, 2024. – The European Central Bank is expected to start cutting interest rates from record highs, its first reduction in nearly five years, but volatile inflation means the path ahead is uncertain. (Photo by Kirill KUDRYAVTSEV / AFP)   Business activity in the eurozone contracted for the first time in 16 months in April, as the war in the Middle East drove energy prices higher and disrupted global supply chains, a closely watched survey showed Thursday. Advertisement googletag.cmd.push(function() { googletag.display("div-gpt-ad-1672569656851-0"); }); The Flash Eurozone purchasing managers’ index (PMI) published by S&P Global, an important gauge of the overall health of the economy, registered a figure of 48.6 this month, down from 50.7 in March. A reading above 50 indicates growth, while a figure below 50 shows contraction.   READ ALSO: Asia Slashes LNG Imports From Nigeria, Others As Closure Of Strait Cuts Off Cargoes Advertisement googletag.cmd.push(function() { googletag.display("div-gpt-ad-1672569913499-0"); }); The development comes as Asia’s imports of liquefied natural gas (LNG) will drop to the lowest in nearly six years in April, as closure of the Strait of Hormuz cuts off cargoes from suppliers such as Nigeria, Qatar, and others. Commodity analysts Kpler estimate Asia’s imports of LNG for April at 19.03 million metric tons, down from 20.69 million in March and the winter peak of 26.34 million in December. April arrivals are ​the lowest since June 2020 and reflect a sharp loss in volumes from Qatar, which, before the Iran war, supplied around 20% of global LNG, according to statistics from a Reuters report.   Advertisement googletag.cmd.push(function() { googletag.display("div-gpt-ad-1672587799169-0"); });   AFP Join Our Whatsapp Channel To join: Simply click on the link below & turn on notifications to get the latest updates Subscribe to Our Newsletter In This Article: Eueconomy Indicator More Stories No related articles found /* * * CONFIGURATION VARIABLES: EDIT BEFORE PASTING INTO YOUR WEBPAGE * * / var disqus_shortname = 'channelstelevision'; // Required - Replace example with your forum shortname / * * DON'T EDIT BELOW THIS LINE * * */ (function() { var dsq = document.createElement('script'); dsq.type = 'text/javascript'; dsq.async = true; dsq.src = '//' + disqus_shortname + '.disqus.com/embed.js'; (document.getElementsByTagName('head')[0] || document.getElementsByTagName('body')[0]).appendChild(dsq); })(); Please enable JavaScript to view the comments powered by Disqus.

SOURCE: https://www.channelstv.com/2026/04/23/eurozone-business-activity-falls-on-mideast-war/