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EUROZONE manufacturers have reported a widespread decline in business activity this month. Preliminary results from the purchasing managers survey show the composite activity indicator slipping to 45.5 (8th percentile for all months since 2006) in April down from 47.1 (17th percentile) in March and 55.5 (76th percentile) a year ago. Eurozone manufacturers are now unambiguously in recession as they struggle with high energy prices, rising interest rates, excess inventories and heightened caution from household and business buyers:
NORTHEAST ASIA’s LNG prices continue to fall amid plentiful inventories in both North Asia and Europe after a mild winter at both ends of Eurasia. Futures prices for LNG to be delivered in July 2023 have fallen below $13 per million British thermal units, the lowest for 15 months since January 2022, before Russia’s invasion of Ukraine:
JKempEnergy.com 