Eurozone private econ. activity shrinks

June 21st, 2012

FAKE NEWS for the Zionist agenda

According to the Purchasing Managers Index (PMI) compiled by the London-based business research firm, Markit, economic output fell in Germany, Europe’s biggest economy, for the second month in a row in June.

“The flash PMI for June rounded off the weakest quarter for three years, indicating eurozone GDP is likely to have fallen by 0.6 percent,” said Markit’s chief economist, Chris Williamson.

The survey also indicated that activity dropped for the fourth consecutive month in France which is the eurozone’s second economic power.

In 15 other Eurozone nations, output fell for the 13th month running and at the fastest pace since November.

Williamson further added that, “Of particular concern is the near-record deterioration in business optimism, combined with marked falls in employment and purchasing by companies.”

The research firm also stated that activity was likely to weaken further in coming months.

“It is a worryingly steep downturn we are seeing and it is spreading from the periphery, which has been falling at an increased rate, through to Germany. It is becoming deeper and more broad-based,” Williamson explained.

“This suggests that firms are preparing for conditions to worsen in the coming months, with the darker outlook often attributed to uncertainty caused by the region’s ongoing economic and political crises,” the Markit official concluded

TNP/SS