Recession

Romania's industry partially came out of depression in September 2019, but the mood among the companies has not changed significantly as against August, although managers seem to be a little more optimistic, according to the Romanian Industry Barometer released on Thursday.

The German economy will be able to counteract a possible economic crisis, Finance Minister Olaf Scholz said today in an interview with the public broadcaster ARD, quoted by Reuters.

The minister, however, added that he did not expect a crisis as severe as the one that had occurred in 2008-2009.

Global growth is projected to slow down further in the next few months, affecting Greece and the rest of the eurozone, warn analysts at Pimco, one of the world's leading investment funds.

The International Monetary Fund (IMF) announced in a report on Sept. 23 that it did not expect Turkey to go into recession in 2019. 

The industry did not recover in July after the powerful crash in June, the Romanian Industry Barometer shows, mentioning that in the summer crashes in industry are hard to recoup, especially when the global context is difficult. "Seasonality partially explains the poor activity.

Greece's new center-right government has scrapped legislation that required employers to provide a "well-founded" reason for dismissals.

The clouds are thickening over the global and the European economy.

A confluence of events and conditions has created an environment of uncertainty and insecurity.

The future of the world economy is yet again becoming more precarious. Germany, Europe's largest economy, appears to be heading for a recession, while at the same time political developments in Italy, where there is an increased likelihood that the coalition government could imploded, have triggered yet more insecurity.

Small and medium-sized enterprises are experienced a surge of confidence in their economic prospects.
Research by National Bank of Greece on a sample of 1,160 firms with turnover of less than 10 million euros showed the confidence index jumping to a 10-year high of 18 in the first half of 2019, up from 13 in the second half of 2018.

Greece's annual EU-harmonized inflation rate slowed in June, statistics service ELSTAT data showed on Wednesday.