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- Eurozone's retail PMI slides to 48.5 in November
Eurozone's retail PMI slides to 48.5 in November
Markit Economics released its retail purchasing managers' index (PMI) for Eurozone on Friday. Eurozone's construction purchasing managers' index (PMI) dropped to 48.5 in November from 54.2 in July.
A reading above 50 indicates expansion in the sector, a reading below 50 indicates contraction.
Sales in Germany, France and Italy declined.
"The eurozone retail PMI posted its lowest reading for nine months in November as sales fell across each of three largest euro area nations. Italy and France recorded the sharpest decreases, though the German PMI's return to contraction territory after reaching an eight-and-a-half year high in July perhaps rings the loudest alarm bells," an economist at Markit, Phil Smith, said.
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