Europe’s Recession
nationsonline.orgEurope continues its fall into a new recession. Research firm Markit reported about March. This morning it announced: The Markit Eurozone PMI Composite Output Index fell from 49.3 in February to a three-month low of 48.7 in March, according to…
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Europe continues its fall into a new recession. Research firm Markit reported about March. This morning it announced:
The Markit Eurozone PMI Composite Output Index fell from 49.3 in February to a three-month low of 48.7 in March, according to the preliminary ‘flash’ reading, which is based on around 85% of usual monthly replies. The latest reading signals a contraction in business activity for the second successive month, and the sixth decline in the past seven months.
The news was not much better for the region’s two largest economies:
At 51.4 in March, down from 53.2 in February, the seasonally adjusted Markit Flash Germany Composite Output Index indicated only a marginal expansion of private sector business activity. Output growth has now been recorded for four months in a row, but the latest rise was the weakest since December 2011 and slower than the long-run survey average.
And,
Latest Flash PMI data signalled a decline in French private sector output for the first time in four months during March. The Markit Flash France Composite Output Index, based on around 85% of normal monthly survey replies, recorded 49.0, down from 50.2 in February.
The area recession that so many economists feared has arrived.
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