Eurozone economy appears to lose momentum as exports stall

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Domino Effect - Financial Crisis in European Union

(Worthy News) - The 19-country eurozone economy lost momentum in September despite a resilient performance by the services sector in Italy, according to a closely watched survey released Wednesday.

Financial information firm IHS Markit said its composite purchasing managers' index, a key measure of business activity in services and manufacturing, slipped to 54.1 points in September from 54.5 the previous month.

Though anything above 50 indicates expansion, the decline provides further evidence that the eurozone economy cooled during the summer as trade growth stalled. Trade tensions around the world, mainly between the United States and China, have stoked worries that protectionism is on the rise to the detriment of business. [ Source: ABC News (Read More...) ]

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