Further severe contraction of private sector output across the Eurozone in January
Feb 4th, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
At a level of 38.3 in January, down on the Flash estimate of 38.5 and up only marginally from December’s record low of 38.2, the final Markit Eurozone Composite Output Index signalled a further severe contraction of private sector output across the euro area. The Index has now remained below the no-change mark of 50.0 for eight consecutive months, and has spent the past three months at levels unprecedented in the ten-and-a-half year survey history, as downturns in the manufacturing and service sectors have deepened.