November 22, 2012
The flash estimate out this morning by Markit shows the PMI Composite Output Index was little-changed in November up to 45.8 from 45.7 in October.
October’s reading had been the lowest since June 2009.
Activity has now fallen in 14 of the last 15 months, with the exception being a marginal increase seen in January.
Chris Williamson, chief economist at Markit said the eurzone economy continued to deteriorate at an “alarming pace”.