Surveys show declining growth in eurozone

07/25/2008 | Financial Times (free content)

Growth prospects are crumbling across the 15-nation eurozone, according to surveys released Thursday. "The downturn is gathering pace faster than expected," said Chris Williamson, chief economist at Markit, which compiles the purchasing managers' indices with Royal Bank of Scotland. The surveys revealed a drop in business confidence in several key nations, as well as private-sector activity contraction.

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