Eurozone manufacturing and services downturn gathers momentum in October
Oct 24th, 2011 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Eurozone manufacturing and services downturn gathered momentum in October and at 47.2, down from 49.1 in September, the Markit Flash Eurozone PMI (Purchasing Managers' Index) Composite Output Index, based on around 85% of usual monthly replies, fell further below the 50.0 no change level in October. The deterioration signalled a second successive monthly contraction of the private sector economy and the fastest rate of decline since July 2009.