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Eurozone looks set for further contraction

in International Business

Eurozone looks set for further contraction

According to the recent figures, the Eurozone economy is expected to shrink further in the early months of 2013, with the weakening consumer demand combined with levels of business confidence and fall global trade.

The Eurozone’s Puchasing Manager’s Index, which measures business activity, is lingering below 50, indicating contraction.

The Eurozone economy shrank by 0.1% in the third quarter of the year and is forecast to shrink again in the current quarter as downturns in the services and manufacturing sectors look set to continue.



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