J.P. Morgan Asset Management - The Weekly Brief

26.08.2024 10:43 - JPMorgan Asset Management (Switzerland) LLC

J.P. Morgan Asset Management - The Weekly Brief

Während sich die europäische Wirtschaft weiterhin allmählich erholt, gibt die verarbeitende Industrie weiterhin Anlass zur Sorge. Die Konjunkturumfragen in der Eurozone für August lieferten weitere Belege für die Divergenz zwischen der soliden Produktion im Dienstleistungssektor und der deutlich schwächeren Aktivität in der verarbeitenden Industrie. Der vorläufige Einkaufsmanagerindex (PMI) für die verarbeitende Industrie fiel in der vergangenen Woche auf 45,6. Auf Länderebene waren die deutschen Daten besonders schwach, während in Frankreich enttäuschende Zahlen in der verarbeitenden Industrie durch einen durch die Olympischen Spiele ausgelösten Boom im Dienstleistungssektor ausgeglichen wurden. Insgesamt scheint die Stärke des Dienstleistungssektors ausreichend zu sein, um das Wirtschaftswachstum der Eurozone in den kommenden Quartalen aufrechtzuerhalten. Doch angesichts der relativ hohen Abhängigkeit der Region von der verarbeitenden Industrie dürfte es für eine stärkere Dynamik bis 2025 erforderlich sein, dass alle europäischen Wachstumsmotoren anspringen.

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