Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  January 02, 2013 12:24:10

Eurozone - activity in the manufacturing sector in December dropped more than estimated and expected

Activity in the eurozone manufacturing sector in December according to revised data activity purchasing managers (PMI) fell to 46.1 points in November, compared to 46.2 points. Below 50 points, which is traditionally seen as the dividing line between growth and contraction, the index moves by Markit Economics for 17 months in a row.
According to the chief economists Chris Williamson, Markit's European manufacturing sector remained under pressure even now at the end of last year. It seems that European recession will continue to deepen.

According to Bloomberg estimates, euro area GDP in Q4 of last year fell by 0.3%.
Analysts ECB count for this year with a decline of GDP in the euro area by 0.5% and 0.3% this year.
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