- Tuesday, 03 April 2012 13:46
- Written by Sean Dudley
Economic figures from Europe have indicated a further downturn, with the highest rate of unemployment across the continent for 15 years.
However the UK economy has grown overall over the last month, indicating that the British economy may avoid the dip back into recession, which is a seeming inevitability in most European nations.
The manufacturing sector’s PMI hit a ten-month high in the UK in March, bucking the general European trend. The growth has been aided by similar trends over the Atlantic in the USA, with trade and a general attempt at avoiding the gloom of Europe being cited as reasons for prosperity.
The rates of employment vary across European nations, with Spain’s level of unemployment being a staggering 23.4% and many southern states suffering from similarly high figures. In the northern nations such as Germany and France there has not been the same desperate set of statistics, but their economies have been stunted by the poor climate around them, affecting business and trade.
There appears therefore to be no likely change to the trend of implemented austerity measures which has seen public outcry in many nations recently, as governments try to stabilise their financial woes.
One further positive however was the Irish economy, which has been aided by its close links to the US, and saw general growth across the board.
With a mixed bag of figures in the financial climate with regards to the UK’s economic chances in the future therefore, it is difficult to predict the next turn in the Eurozone saga.Comments