Skip to main content

The euro-zone inventory overhang has yet to unwind

Our analysis suggests that the inventory rundown underway in the euro-zone manufacturing sector has further to go and, crucially, that the pace of destocking is likely to be even greater in Q2 than in Q1. Accordingly, all we can hope for in the short term is a more modest – but still sizeable – pace of economic contraction than at the turn of the year.

Become a client to read more

This is premium content that requires an active Capital Economics subscription to view.

Already have an account?

You may already have access to this premium content as part of a paid subscription.

Sign in to read the content in full or get details of how you can access it

Register for free

Sign up for a free account to gain:

  • Unlock additional content
  • Register for Capital Economics events
  • Receive email updates and economist-curated newsletters
  • Request a free trial of our services


Get access