Eurozone businesses suffered their worst month in more than three years in October, forcing them to cut more jobs to reduce costs.
The downturn that began in smaller members of the zone is now gripping Germany and France, dragging the 17-member bloc deeper into the quagmire, new data has revealed.
Markit?s Composite Purchasing Managers? Index (PMI), which polls about 5,000 businesses across the eurozone and is viewed as a reliable growth indicator, fell to 45.8 this month from a September reading of 46.1.
It is the lowest reading since June 2009 and confounded expectations for a rise to 46.4. The
Source: http://www.thetimes.co.uk/tto/business/economics/article3577834.ece
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