Published on 21.07.2011
Surveys Point to Slowdowns in Euro Zone and China
One survey showed that growth stalled in the euro zone's manufacturing and service sectors, while in China another index showed that attempts to slow a red-hot economy are working.
While most investor attention was focused on a meeting of European leaders attempting to resolve the Greek debt crisis, survey data released Thursday suggested a backdrop of stagnating economic activity in the euro zone and softening output in China.
The composite euro zone purchasing managers’ indexes, known as P.M.I.s and complied by Markit, showed growth in the euro area’s manufacturing and service sectors stalled in July, with the composite index showing its lowest reading in 23 months.
In China, a closely watched survey of purchasing managers produced the lowest level in 28 months, according to HSBC, which published the index.
Full article at NYtimes.com