Euro zone PMI down

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Source: Marketwatch
The purchasing managers index across the single currency area shrank in May at the fastest rate since mid-2009. The composite purchasing managers index lost 0.8 points and now stands at 45.9. The manufacturing PMI decreased to 45.0, down from 46.1 last month, while the services PMI dropped to 46.5 from 46.9. An indicator below 50 indicates activity shrinkage. Chris Williamson of Markit argues that these numbers are consistent with the expected GDP contraction by 0.5%.
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Thu, 24 May 2012 13:27:48 GMT

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