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Factory Activity Slows in Eurozone
The pace of manufacturing activity in the eurozone slowed to its lowest rate in six months, according to Markit Economics Ltd.'s closely watched Eurozone Manufacturing Purchasing Managers' Index.
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The pace of manufacturing activity in the eurozone slowed to its lowest rate in six months, according to Markit Economics Ltd.'s closely watched Eurozone Manufacturing Purchasing Managers' Index.
The index dropped to 52.2 in May from 53.4 in April.
Any index number above 50 indicates growth. But analysts say last month's decline is likely to prompt the European Central Bank to announce steps to stimulate the region's economy when it meets on Thursday.
The ECB's current rate is 0.25%, and analysts predict the bank will lower it to 0.10%-0.15%. Economists also expect the bank to announce other measures to help increase the region's inflation rate from 0.7% to a pace closer to the ECB's 2% target rate.
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