The data released by the data compiled agencies Markit shows manufacturing PMI of November in Euro zone fell to historical bottom, lower than the original bad data. The prospect of manufacture is really hard.
The data shows manufacturing PMI of November in Euro zone fell to 35.6, far away the original 36.2 and the prospect of economists. The output, added and surplus orders hit lowest bottom of history.
PMI in Euro zone has been below 50 for six months. Companies are cutting off jobs. Employment Index dropped to lowest level 41.0. The data reported by Eurostat on last Friday showed the unemployment rate rose to 7.7% the high of recent two years.
However, Input price decreased to the low of recent 7 years and output price also fell to the lowest since July, 2003, Which will give more pressure to European Central Bank on cutting rates substantially on Thursday