Euro Zone Business Activity Shrinks For 5th Straight Month
Euro zone business activity shrank in June, its fifth consecutive monthly contraction, in the metric's lowest level in three years, according to a purchasing managers survey released Thursday by Markit Economics.
The group's June index, which held at 46 this month, is now at its lowest level since June 2009. A reading below 50 indicates contraction. Employers cut staff for the sixth consecutive month as new orders fell for the 11th straight month.
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