European Services and Manufacturing Index Fell More Than Expected

“Euro-area services and manufacturing output contracted more than estimated in September, adding to signs of a deepening slowdown as governments struggle to contain the region’s debt crisis.

A composite index based on a survey of purchasing managers in both industries fell to 49.1 in September from 50.7 in the previous month, London-based Markit Economics said today. That is less than an initial estimate of 49.2 published on Sept. 22. The index fell below 50, indicating contraction, for the first time in more than two years.”

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