Manufacturing Activity Across Eurozone Shrinks
Thursday, 01 January 1970
Manufacturing activity across Europe contracted to a two-year low, confirming that the debt-troubled region is in recession, Reuters (www.reuters.com) reported.
The euro zone's purchasing managers' index (PMI) reached 46.4 points with a worsening factory activity in France and Germany. The UK's PMI shrank at the fastest pace in two years to 4.6 points in November, its lowest rate since June 2009. The results proved that the Britain economy is also threatened.
The developed world has been in stagnation for the past several months, with some small exceptions in the United States, but the slowdown appears to be spreading to economic powerhouses of the developing world, Reuters added.