Eurozone private sector hits worst slump in 2 years: survey
03 October 2011, 09:42 CET
(BRUSSELS) - The eurozone's private sector economic activity contracted in September, falling to its worst level in more than two years, a closely-watched survey showed on Monday.
The Purchasing Managers Index (PMI), compiled by London-based research firm Markit, dropped to 48.5 points last month compared to 50.7 points in August.
This was worse than a previous estimate of 49.2 points and the first time it dropped below 50 since July 2009. A reading below 50 points indicates contraction.