As European politicians engage in further crisis talks, growth in the Eurozone is slowing. At least, that is, if today's “Flash PMIs” for the region are anything to go by. Perhaps most concerning was the fact that although Germany and France saw growth, for the rest of the currency area, output fell for the second successive month. Even growth in Germany and France was at the slowest rate since the recession ended.
Source: Markit Economics, 2011
A glimmer of good news, perhaps, is that the slowdown has meant price pressures have started to ease. Producers experienced the smallest rise in input prices since January 2010. In addition, job creation seems to have edged up a little from last month's low-point, largely driven by the area's manufacturers.