mish>Eurozone Recovery Slows; Contraction Evident Except Germany, France
Robust growth in Q3 will soon give way in Europe. Markit reports Eurozone recovery slows as renewed contraction is evident outside of French-German core
Contracting periphery
Outside of the two largest euro member states, a renewed contraction of economic activity was evident in September. The Composite Output Index for the rest of the Eurozone1 has fallen steadily since peaking at 54.2 in March, dropping from 51.7 in August to 49.4 to thereby slip below the 50.0 no-change level for the first time since last November.
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