Eurozone PMI data signals further easing of downturn in May as output, orders and employment show reduced rates of decline
May 21st, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
The Markit Flash Eurozone Composite Output Index, based on around 85% of normal monthly survey replies, signaled a marked easing in the rate of contraction for the third month running in May. The PMI (Purchasing Managers' Index) index rose from 41.1 in April to 43.9 – an increase in points-terms to match April’s survey record. Although the index continued to run below 50.0, indicating a further marked fall in output and the twelfth monthly decline, the rate of contraction in May was the weakest since last September.