The chief economist of the European Central Bank points out that it will take a long time before the economy reaches a full recovery
The European Central Bank’s chief economist Lien published an article on the website that under the influence of the new crown virus epidemic, the economic outlook of the euro zone is still highly uncertain, so it is unwise to draw the conclusion of a strong economic recovery from the second quarter economic data, and emphasized that the current economic development is still in a downturn. In addition, it expects that it will take a long time before the economy reaches a full recovery, so the central bank must provide stimulus measures. Lien appeared cautious about the economic outlook in the region, which slightly cooled the market’s optimism about the economic recovery in the euro zone.
The increase in private jobs in the U.S. in July is lower than the market originally expected
In the United States, the number of private jobs in the Human Resources Service Company (ADP) increased by only 167,000 in July, far less than the 1.5 million originally expected by the market. During the period, jobs in the product manufacturing industry increased by 1,000, jobs in the construction industry decreased by 8,000, manufacturing jobs increased by 10,000, and jobs in the service industry increased by 166,000. New jobs for small non-farm farmers in the United States were significantly lower than expected, causing the market to worry about the official employment figures to be announced on Friday.
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