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Euro economies weaken further in May

06-06-2012 14:14 BJT

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The latest PMI figures released by Markit on Tuesday show that all of the eurozone's major economies are now in various states of decline.

The composite PMI fell to 46 in May from April’s 46.7, the lowest reading since June 2009. This is below the 50 mark, which separates growth from contraction.

Meanwhile, the composite PMI’s new business order index slowed last month to 44.6 after 44.8 in April, this is also the lowest reading since June 2009.

The PMI for the services sector, covering firms from banks to restaurant chains, declined slightly to 46.7 in May from 46.9 in April.

In the sales sector, according to the EU’s statistics office Eurostat, the figure fell 1 percent in April compared to March, due to consumers holding back from spending given rising unemployment on the continent.

 

 

Editor:Zhang Rui |Source: CNTV.CN

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