Oil Prices Dent Euro Economy

摘要

The detrimental economic impact of high oil prices was highlighted in the latest manufacturing data from Europe, which pointed to the region falling into recession. Output contracted across the eurozone, as new orders declined at an accelerated pace with demand falling in both domestic and export markets. "At the same time firms saw their production costs rise sharply, largely as a result of high oil prices," said Chris Williamson, chief economist at Markit, which collated the data.