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Eurozone private sector hits worst slump in 2 years: survey

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(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.


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