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Εconomic Cycles Phases in US & Euro Αrea Εconomy




According to our quantitative analysis, the leading ISM Manufacturing Indicator has signaled the transition of the US manufacturing sector from the recession phase to the recovery phase of the business cycle. On the other hand, the general leading euro area Indicator of Economic Sentiment has moved from the expansion phase to the downturn phase. It seems that the USD depreciation (during the three month period Feb.2016 – Apr.2016) has helped the US manufacturing sector to recover and has also stabilized the international oil prices.