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PMI data "leak" the euro zone into recession

One of the latest economic indicators suggest that the euro-zone economy may have entered into a recession. The data provider Markit Economics on the 24th July, the euro zone PMI reported 46.4, which also means that the euro zone manufacturing and services output shrinking the sixth consecutive month.
 
In major economies such as Germany and France, the latest PMI data released pessimistic signal. Germany and France July PMI were down more than three years low and less than 50 "pass line". Williamson, Markit's chief economist, said July's PMI data, suggesting the euro zone economy has plunged into recession. He has calculated that this quarter Eurozone GDP may decline by about 0.6%.
 
At present, the euro area in the second quarter, official economic data is not yet available. Markit expects eurozone GDP in the second quarter, the same will fall about 0.6 percent for two consecutive quarters of negative growth, which means the economy into recession. The preliminary data released by Eurostat will be in mid-August the euro zone in the second quarter GDP.



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