Eurozone manufacturing contracts for sixth month

Eurozone services and manufacturing output contracted for a sixth month in July adding to signs the economy is edging toward a recession.

3rd August, 2012
Europe’s economy probably contracted 0.2 per cent in the second quarter after stagnating in the first three months

Eurozone services and manufacturing output contracted for a sixth month in July adding to signs the economy is edging toward a recession.

A composite index based on a survey of purchasing managers in both industries rose to 46.5 from 46.4 in June, London-based Markit Economics said in a final report today. Markit had initially reported a reading of 46.4 for July. A reading below 50 indicates contraction.

“With incoming new business falling at the fastest rate for three years...

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