- CNTV English - CCTV News

European countries PMIs

12-06-2011 10:58 BJT

Watch Video

Play Video

Ahead of a crucial week in Europe, the region's latest PMI figures are raising concerns that the escalating debt crisis could be far worse than economists had expected. The eurozone November composite PMI failed to rise above the 50 threshold, containing the contraction that began months ago. In individual European nations, the picture was also grim.

The Eurozone Composite PMI, which measures changes in business activity across the eurozone rose slightly to 47 from 46.5 in October, indicating the private sector economy contracted for the third month in a row in November. Meanwhile, the labor market in the eurozone continued to stagnate in November.

Germany - Europe’s biggest economy, saw its service sector PMI fall to 50.3 in November from 50.6 in October. Services firms make up some two-thirds of Germany’s economy and are expected to become more important as a global slowdown weighs on trade.

In Britain, the dominant services sector picked up slightly, with PMI coming at 52.1 last month, defying forecasts it would stagnate. The pick-up in activity in services was driven by a continued inflow of new business. However, the nation’s manufacturing PMI, though, showed the biggest fall in factory output since June 2009.

Italy, at the center of Europe’s debt crisis, saw its service sector activity contract for the sixth straight month in November. The nation’s services PMI edged up to 45.8, but new orders and employment declined.

Spain’s, another euro nation in trouble, saw its PMI fall to 36.8 - the lowest since March 2009. The nation also has the highest unemployment rate in the EU at 21.5 percent.


Editor:Zhang Rui |Source: CNTV.CN

Hot Videos view more

The celebrations are still continuing as the victorious coach, Joachim Loew, has been honored for his achievement in his hometown of Freiburg.
Germany coach Loew honored in hometown of Freiburg

Chinese men´s national team continued its preparations for next year´s Asian Cup, as they managed a one-all draw against visitors Jordan during a football friendly in Harbin, the capital city of Northeast China´s Heilongjiang Province.
China held to 1-1 draw by Jordan

The defending world champs came into the contest with a perfect 6-and-oh record, but they would be in for a tough first half before opening things up in the second.
USA beat Slovenia 119-76 in quarter-finals

Hot Stories more

UK authorities believe killer of James Foley is a British national

Across the UK the hunt is on for James Foley’s killer, who authorities believe is a British national. As Richard Bestic reports from London, Prime Minister David Cameron cut short his summer break to lead his government’s response.

Israeli war jets renews Gaza strike as truce talks stalled

Three Palestinians were killed and 40 others wounded in the intensive Israeli war jets´ airstrikes on the Gaza city on Tuesday night, shortly before an end of a 24-hour ceasefire in the Gaza Strip,

Missouri police arrest dozens after violent night

As the protests in the town of Ferguson, Missouri turned violent with police facing ´heavy gunfire´ from some ´criminal elements´, cops fired tear gas, stun grenades and arrested 31 demonstrators on Monday night.

Picture in news more

More Video News

Choose TV Program