EU TIMEBOMB: Business growth hits 20-MONTH low as German economy outlook WORSENS

Friday, September 23, 2016
By Paul Martin

EUROPE’S economy growth has dived to its lowest level in almost two years, as Germany’s tumbling output takes its toll.

By LANA CLEMENTS
Express.co.uk
Fri, Sep 23, 2016

The 19-country bloc saw combined growth in its service and manufacturing sectors fall to 52.6 in September, a low not seen since January 2015, as measured by Markit Purchasing Managers’ Index (PMI).

The woeful reading was largely thanks to the slowdown of the eurozone’s largest economy, as Germany’s output plumbed to 16-month depths amid a sharp slowdown in its service sector, showed the PMI data.

For the first time in more than four years, France is now expanding at a faster rate than Germany.

Across the eurozone, service sector growth and optimism of activity in 12 months time were both at 21-month lows.

The Rest…HERE

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