An early peek this week at how the euro zone economy performed in April could cement the case for the next installment in an unprecedented campaign of monetary easing by the world’s major central banks.
A preliminary survey of purchasing executives from the 17-country bloc is likely to furnish the new evidence of economic weakness that Jens Weidmann, the president of Germany’s hard-line central bank, says is needed for the European Central Bank to cut interest rates.
The composite index derived from the survey by data providers Markit is likely to be unchanged at 46.5, well below the 50 threshold denoting expansion.
The euro zone economy, in short, remains dead in the water.
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