Eurozone Growth Slows Again

June 23, 2010
The manufacturing index also dropped slightly.

Growth across the 16-nation eurozone slowed for the second straight month in June, led by a slowdown in new orders, research showed on June 23.

Euro area business activity was still higher but the purchasing managers' index (PMI) compiled by data and research group Markit fell to 56.0 in June, down slightly from May and the post-recession peak of 57.3 in April.

Any score above the 50-point line indicates economic growth.

The manufacturing index also dropped, slightly, to 55.6 points from 55.8, its lowest rate in fourth months.

Markit chief economist Chris Williamson said the "the downturns in growth of output, new orders and exports towards the end of the quarter suggest that economic growth will moderate as we move into the second half of the year."

That could mean "the growth of employment could lose momentum in coming months, highlighting the region's ongoing dependence on exports rather than domestic demand to sustain the recovery," he warned.

The good news is that the index remained above 50 points for the 11th consecutive month.

Copyright Agence France-Presse, 2010

Popular Sponsored Recommendations

Empowering the Modern Workforce: The Power of Connected Worker Technologies

March 1, 2024
Explore real-world strategies to boost worker safety, collaboration, training, and productivity in manufacturing. Emphasizing Industry 4.0, we'll discuss digitalization and automation...

3 Best Practices to Create a Product-Centric Competitive Advantage with PRO.FILE PLM

Jan. 25, 2024
Gain insight on best practices and strategies you need to accelerate engineering change management and reduce time to market. Register now for your opportunity to accelerate your...

How Manufacturers Can Optimize Operations with Weather Intelligence

Nov. 2, 2023
The bad news? Severe weather has emerged as one of the biggest threats to continuity and safety in manufacturing. The good news? The intelligence solutions that build weather ...

Transformative Capabilities for XaaS Models in Manufacturing

Feb. 14, 2024
The manufacturing sector is undergoing a pivotal shift toward "servitization," or enhancing product offerings with services and embracing a subscription model. This transition...

Voice your opinion!

To join the conversation, and become an exclusive member of IndustryWeek, create an account today!