The Eurozone's difficulties worsen and the single currency weakens. In October the PMI index calculated by Markit on manufacturing and services fell to 45,8 points from 46,1 in September. The latest figure is the weakest in 40 months (June 2009) and largely disappoints the expectations of analysts, who had predicted a rise to 46,5 points. The fateful threshold 50, which marks the border between expansion and contraction, therefore remains far away.
In detail, the PMI index (flash estimate) of manufacturing sector in the Eurozone stood at 45,3 (minimum value in the last two months) from 46,1 points in September. The flash estimate of the PMI index of services on the other hand, it showed a slight improvement, rising to 46,2 points from 46,1 points in September.
The economic picture that emerges from the survey is, however, worsening: companies in the euro area have continued to cut manpower levels in an attempt to adapt production capacities to lower levels of demand for goods and services.
The total rate of job losses slowed slightly but held close to a 32-month high set in September.
Meanwhile, the euro is traded at 1,2929 dollars, the lowest value in the last week.
