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Eurozone business activity falls to 11-month low

Eurozone business activity falls to 11-month low
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Eurozone business activity has hit an 11-month low according to the Composite Purchasing Managers Index (PMI).

The survey says the Eurozone has suffered at the hands of volatile financial markets and uncertainty surrounding the global outlook.

This is due in part to the sharp slowdown in the Chinese economy, which has destabilised markets and spread fears about longterm stability.

Still the PMI, at 53.5 points, is still above the 50-point-boom-or-bust line, which indicates the Eurozone is expanding overall, below 50 points indicates contraction.

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