EU service sector set to shrink into 2009 as slower world growth spreads to BRIC; Industrial output falls in the Eurozone’s three largest economies
Nov 10th, 2008 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Confidence at EU service sector firms evaporated in the autumn in the midst of the worst global financial crisis in eighty years, with a contraction of activity expected heading into 2009. Meanwhile, growth in the key emerging markets of the BRIC region (Brazil, Russia, India and China) is set to slow as service sector companies there expect weaker demand spreading from the developed Western economies. Industrial output data published on Monday shows falls in the Eurozone's three largest economies in September.