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Eurozone PMI in June in three years low

:2012-06-25 22:06:44Source::UniteDirectory  [Submit Article]  [Submit Link]

  21, the latest data released by research institutions of the European Data Markit show that the initial value of the euro zone manufacturing purchasing managers index (PMI) in June to 44.8, the highest the lowest since the 36 months to less than the market expected value of 44.9 as well as on the month-end values 45.1; June Eurozone services PMI initial value of 46.8, better than market expectations of 46.4 and 5 month-end value of 46.7; the month the euro area PMI initial value of 46.0 and May PMI unchanged from the final value, a record of nearly 35 month low.
Markit chief economist Chris Williamson said, June Eurozone PMI initial data indicates that in the second quarter will be a quarter of the past three years, the worst performance of the euro zone economy in the second quarter Eurozone GDP is likely to ring down 0.6%. At present, the euro-zone economic downturn is accelerating and spread of particular concern is the rapid deterioration of business confidence in, the number of companies to hire and purchase amount marked decline, these means that the euro-zone business is expected within the next few months, the regional economic environment will be further deteriorate. Bleak economic outlook and weak demand to reduce inflationary pressures in the euro area, which may leave more to stimulate the euro-zone monetary policy makers.
Specific member, the core member for the euro area, Germany June manufacturing PMI initial value of 44.7 for a new low since June 2009, less than the market expected value of 45.2 and 5 month-end value of 45.2; June services PMI initial value 50.3, less than the market expected value of 51.5 and 5 month-end value of 51.8; the country's June initial comprehensive PMI was 48.5, the same record near 36 month low, less than five month-end value of 49.3.
Markit senior economist Tim Moore pointed out that Germany's private sector economy is sliding into further shrinking the integrated output rate of decline for the past 36 months has been the fastest. The deterioration of the global economy and the debt crisis in Europe deepened not only drag on the German export trade, the German manufacturing industry is facing the risk of recession. Markit expects euro-zone economy is currently the only "locomotive", the German economy is also possible recession in the second quarter.

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