Europe’s manufacturing growth is expected to slow in January and perhaps the economy too would decline further, a survey of economists analyze. The survey shows that economic growth in the 13 Euro nations is decelerating rapidly. German business confidence plummeted this month as tax increases.
Speculators predict that Royal Bank of Scotland Group Plc manufacturing index may decline to 56.2 from 56.5 in December. Consumer and executive confidence in the economy to slipped in third month too. Survey shows that the euro-region’s economic growth will fell to 2.2 percent this year from 2.7 percent in 2006, the most in the 21st century.
U.K. Manufacturing growth may have slowed for a consecutive fourth month, European car sales slipped by 0.3 percent last month, as buyers were discouraged by rising interest rates. Industrial production growth declined to 2.5 percent in November from 3.6 percent a month before. The annual growth rate in industrial orders slowed to 6.2 percent from 12.8.
