Private sector to struggle in eurozone
Source: Agencies |
July 25, 2012, Wednesday
|
Print Edition
Print Edition
THE troubled eurozone's private sector looks set for many months of more pain, July business surveys showed yesterday.
In a further blow to policymakers battling Europe's raging debt crisis - with Spain now firmly in the bailout spotlight - the downturn that began in the eurozone's smaller economies has now become entrenched in core countries of Germany and France.
The 17-nation eurozone's private-sector economy shrank for a sixth month in July. Manufacturing output nosedived, particularly in Germany, making another official recession likely.
Markit's Eurozone Composite PMI, which combines the services and manufacturing sectors and is as a good guide to overall growth, held steady at 46.4, but manufacturing was dire and forward-looking indicators were grim.
The composite index has been below the 50 mark that separates growth from contraction for half a year.
In a further blow to policymakers battling Europe's raging debt crisis - with Spain now firmly in the bailout spotlight - the downturn that began in the eurozone's smaller economies has now become entrenched in core countries of Germany and France.
The 17-nation eurozone's private-sector economy shrank for a sixth month in July. Manufacturing output nosedived, particularly in Germany, making another official recession likely.
Markit's Eurozone Composite PMI, which combines the services and manufacturing sectors and is as a good guide to overall growth, held steady at 46.4, but manufacturing was dire and forward-looking indicators were grim.
The composite index has been below the 50 mark that separates growth from contraction for half a year.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
