Monday, May 6, 2013

Euro zone business downturn points to deeper recession in second-quarter: PMI

The euro zone's business downturn dragged on in April, suggesting the region may be falling deeper into recession this quarter, business surveys showed on Monday.

The purchasing managers indexes (PMIs) also showed that Germany is now suffering a contraction in business activity that has long dogged France, Italy and Spain.

Markit's Eurozone Composite PMI, which gauges activity across thousands of companies and is seen as a good gauge of economic conditions, edged up in April to 46.9 from 46.5 in March, marking an improvement on an initial reading of 46.5.

http://www.reuters.com/article/2013/05/06/us-poll-euro-zone-idUSBRE94505320130506