The PMI index falls in the countries of the Eurozone. In March, according to Markit Economics, the Markit PMI composite index on production was 49,1 points, while in April it fell to 46,7 points.
The index is also lower than the flash estimate (47,4 points) and records the fastest rate of contraction since last October, and also the steepest since mid-2009.
A more marked decrease in production was found both in manufacturing and in the tertiary sector. The PMI at the national level has highlighted a strong and widespread weakness within the nations belonging to the single currency.
Going into the details of individual countries, the decreases in Italy and Spain have increased, with output decline rates at the highest levels since April 2009 and November 2011 respectively. France also continues to slide, while growth in Germany has declined further heading towards stagnation.
In Italy, the tertiary sector is contracting the most, with a sharp decrease in new monthly orders, production and employment levels also decrease by leaps and bounds since the Bel Paese was hit by the recession. The seasonally adjusted index fell from 44,3 in March to 42,3 in April, the lowest in almost three years.
