Brussels, (AFP). Private sector business activity eurozone slumped in October, falling at fastest rate since June 2009 into a low level for the past 40 months, according to a survey indicated on Wednesday (24/10).
Composite Purchasing Managers Index (PMI), a survey of 5,000 business eurozone compiled by research firm Markit, fell to 45.8 points in October from 46.1 in September.
The index is a leading indicator, and the data below 50 indicates a contraction in business activity, with the euro zone down to a bad start during the fourth quarter, as the debt crisis continues to undermine growth and jobs.
Preliminary data indicated PMI shows sector institutions 46.2 points in October, up from 46.1 in September, while the manufacturing sector fell sharply to 45.3 from 46.1 points.
Markit said activity declined continuously since September 2011 with the exception of a marginal rise in January.
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