German firms' surprise decline worries eurozone
Source: Agencies |
April 24, 2013, Wednesday
|
Print Edition
Print Edition
A SHARP drop in German business activity overshadowed an easing downturn in France in April, surveys showed yesterday, raising concerns over a further economic contraction in the eurozone.
Markit's flash eurozone services PMI, an early gauge of business activity each month, rose to 46.6 in April from 46.4 in March, below the 50 line that divides growth from contraction but matching the forecast of economists.
Markit cautioned against taking the rise as a clear sign the region's recession has bottomed out, pointing to a surprise decline in German firms that form the backbone of the eurozone economy.
"Previously, we've seen Germany expand while other countries have contracted - notably Spain, Italy and France," said Chris Williamson, chief economist at Markit.
"Now it seems those contractions are being accompanied by a downturn in the largest economy, Germany, and that will no doubt act as a drag on growth."
There was some respite for French companies, which in March endured their worst month since the depths of the deep recession in 2009, and that helped support the latest wider eurozone PMI.
The eurozone economy shrank 0.6 percent quarter on quarter in the final three months of last year.
Markit's flash eurozone services PMI, an early gauge of business activity each month, rose to 46.6 in April from 46.4 in March, below the 50 line that divides growth from contraction but matching the forecast of economists.
Markit cautioned against taking the rise as a clear sign the region's recession has bottomed out, pointing to a surprise decline in German firms that form the backbone of the eurozone economy.
"Previously, we've seen Germany expand while other countries have contracted - notably Spain, Italy and France," said Chris Williamson, chief economist at Markit.
"Now it seems those contractions are being accompanied by a downturn in the largest economy, Germany, and that will no doubt act as a drag on growth."
There was some respite for French companies, which in March endured their worst month since the depths of the deep recession in 2009, and that helped support the latest wider eurozone PMI.
The eurozone economy shrank 0.6 percent quarter on quarter in the final three months of last year.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 娌狪CP璇侊細娌狪CP澶05050403鍙-1
- |
- 浜掕仈缃戞柊闂讳俊鎭湇鍔¤鍙瘉锛31120180004
- |
- 缃戠粶瑙嗗惉璁稿彲璇侊細0909346
- |
- 骞挎挱鐢佃鑺傜洰鍒朵綔璁稿彲璇侊細娌瓧绗354鍙
- |
- 澧炲肩數淇′笟鍔＄粡钀ヨ鍙瘉锛氭勃B2-20120012
Copyright 漏 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
