Eurozone business activity has hit an 11-month low according to the Composite Purchasing Managers Index (PMI).
ADVERTISEMENTEurozone business activity has hit an 11-month low according to the Composite Purchasing Managers Index (PMI).
Flash #Eurozone#PMI shows that economic growth cools at start of 2016. More here: https://t.co/totS2OR80epic.twitter.com/rqXp80JZwH
— Markit Economics (@MarkitEconomics) January 22, 2016The 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.
Draghi: #ECB is carefully monitoring #China. He mentioned China PMI as measure to watch. pic.twitter.com/aozHx0BZwh
— Holger Zschaepitz (@Schuldensuehner) January 21, 2016Still 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.