Service industry companies in the eurozone are more pessimistic about their prospects than at any time since early 2009, pointing to little chance of a return to growth for the region soon, according to business surveys published Thursday.
Preliminary data showed the weakest reading for service sector activity in 40 months, and expectations for the year ahead were at their lowest since March 2009. Sentiment in Germany, Europe's biggest economy, fell particularly sharply.
Markit's composite purchasing managers' index (PMI) for November stood little changed at 45.8, compared with 45.7 in October.
A fall in the services PMI to 45.7 from 46 was partly offset by a slower rate of decline in manufacturing. Any reading below 50 signals contraction. Markit said the surveys pointed to contraction of 0.5% in the eurozone economy in the fourth quarter.
- 1Draghi Says ECB Will Do What It Must to Spur Price Gains
- 1E-Trade Trader Owe $106,445.56 In One Night
- 1FOMC Minutes Pushed Toward December Hike
- 1U.S. consumer prices Index Picking Up Excluding Food, Energy
- 1French Exchange Plans Normal Open as Paris Awakens From Attacks
- 1IEA Says Record 3 Billion-Barrel Oil Stocks May Weaken Prices
- 1Draghi's Two Words on Inflation Suggest Core as ECB Policy Guide
- 1Dollar Is Too Strong Now But Why
- 1Wall Street opens lower as after strong jobs data
- 1Nonfarm Payrolls and U.S. employment Forecast For Today
Follow ForexSQ on Social Networks
adp apple asia stocks asian stocks aussie australian dollar bank of england bank of japan bernanke best forex news boe boj bonds canadian dollar china china economy crude oil currency currency news currency trading dollar dollar index dow dow jones draghi ecb economy economy news eur eur/usd euro euro crisis euro zone europe stocks european central bank european stock markets european stocks eurozone eurusd facebook fed federal reserve fomc forex forex news forex trading forex trading news franc fx fx news gbp/usd germany gold gold price greece greek grexit imf ism japan jobless claims jobs report jpmorgan merkel nasdaq nfp obama oil oil price oil prices opec payrolls pound price of oil ruble s&p 500 spain sterling stock stock futures stock market stocks swiss franc u.s dollar u.s. dollar u.s. economy u.s. stock u.s. stock futures u.s. stocks unemployment rate us dollar us economy us stocks usd usd/chf usd/jpy wall street yellen yen yuan
“Yes, Dollar is stable and fix and it is useful for...”
“there is no gold savior anymore...”
“i think us stocks has bubble these days...”
“Federal Reserve want to have more control on banks...”
“actually forex traders know more about ite...”
“i know grexit will destroy euro 1finally...”
“most of forex traders shocked by euro falling...”
“oil prices will fall down more...”
“unexpectedly good nfp news for US dollar...”
“swiss national bank destroyed the forex market by its false decision...”