In a sign that the recession that ravaged the eurozone continues to drag on its economy, its most recent Purchasing Managers Index (PMI), as measured by Markit, missed most expectations on the low side.
The research firm’s experts reported:
The pace of economic growth in the euro area slowed to a 16-month low in November, according to the Markit Eurozone PMI. The headline index, which measures business activity in the manufacturing and services economies, fell from 52.1 in October to 51.4, its lowest since July of last year.
Figures from the eurozone’s largest economy should also cause anxiety:
November’s flash data signalled a further slowing in private sector output growth in Germany, as highlighted by the seasonally adjusted Markit Flash Germany Composite Output Index falling from 53.9 in October to 52.1.
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