Danske Bank: PMI at recession levels |
Autor: Bancherul.ro
2008-09-23 14:36 |
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PMI fell further in September confirming a picture of a Euroland economy flirting with recession, said Danske Bank.
Composite PMI fell to 47 from 48.2 in August (consensus 47.8, Danske Bank 47.9).
The decline was driven by a substantial fall in PMI manufacturing while the service PMI fell only slightly. The report also showed a further weakening in employment while price pressures eased a bit. The balance between orders andinventories continues to be at a very low level and points to further weakness in PMI in the months ahead.
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