The data released by Markit Economics continues to provide signals of the further decline in the Eurozone economy. The PMI index is sliding down for 35 consecutive months.
In accord to the agency’s press release the business activity in manufacturing slowed down by 0.1 points to 44.7, the services activity also altered by 0.1 pips upwards to 46.8 points. Regretfully, neither manufacturing, not services sectors were able to exceed the benchmark of 50 points.
The main reason for the passive activity is stemming from the EA debt crisis spreading, even such great European economies as Germany and France are under its impact.
Thus, the macrostatistics of Germany even hit three-year lows. The data disappointed the investors who actually were waiting for more positive readings. Now the situation has grown more pessimistic. The experts are sure of that Germany will be demonstrating the indices below the mark of 50 during the whole 2012.
The unconfirmed predictions stopped the upmove of the European currency. The euro – US dollar pair descended to 1.2550 US dollars.
The euro rate was excessively pressurized by the Spanish bond auction results. The yield of 5-year bonds appreciated to 6.072% form 4.96%.
