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Europe’s Economic Recovery Slows
Economic activity in the eurozone has slowed to its weakest pace in six months, according to the Markit Purchasing Managers' Index.
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Economic activity in the eurozone has slowed to its weakest pace in six months, according to the Markit Purchasing Managers' Index.
The closely watched index for private-sector activity slipped to 52.8 in June from a 35-month high of 53.5 in May. Any number above 50 indicates growth.
Still, the average PMI reading for the second quarter overall is its strongest in three years. And Markit's survey predicts the eurozone's overall economy will expand at least 0.4% in the current quarter.
But the London-based market research firm notes results within the region remain uneven. Germany's economy is expected to expand by 0.7% in the second quarter. But activity in France shrank for the second consecutive month.
Manufacturing output has grown for 12 months. But Markit notes that the rate of growth fell to a nine-month low. The firm says a slowdown in the growth of new orders suggests continuing sluggishness for several months.
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