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Manufacturing Growth Slows in Eurozone
Manufacturing activity in the eurozone continues to grow, but the pace unexpectedly slowed this month, according to London-based Markit Economics.
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Manufacturing activity in the eurozone continues to grow, but the pace unexpectedly slowed this month, according to London-based Markit Economics.
The research firm's Manufacturing Purchasing Managers Index for the 17-country region slipped to a two-month low of 52.8 in November from 42.9 in October.
Any number above 50 indicates expansion. But analysts worry that any decline suggests the eurozone's fragile economic recovery is losing momentum only months after the area emerged from recession.
Markit's composite index also dropped for the fifth consecutive month in November, falling to 51.5 from 51.9 in October. The firm says data indicate that growth in the region's gross domestic product in the fourth quarter will be only 0.2%. It also warns of signs that "deflationary forces may be gathering."
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