The euro zone manufacturing activity in July consecutive decline for 12 months, indicate third quarter of the economy is still difficult to restore, still some distance for the economic to recovery.
The Markit economy announced, euro zone 17 countries manufacturing purchasing managers index (PMI) fell to 44 in July, worse than the original estimate of 44.1 and also lower than the 45.1 in June, record 37 month low, the figure below 50 means that economic activity shrinks.
Markit chief economist Williamson said: "manufacturing is evidently dragged down third-quarter growth, at the same time, the recession in the euro area is gradually deepened.”
The Markit economy announced, euro zone 17 countries manufacturing purchasing managers index (PMI) fell to 44 in July, worse than the original estimate of 44.1 and also lower than the 45.1 in June, record 37 month low, the figure below 50 means that economic activity shrinks.
Markit chief economist Williamson said: "manufacturing is evidently dragged down third-quarter growth, at the same time, the recession in the euro area is gradually deepened.”