In September, The Manufacturing Index Of 16 Countries In The Euro Area Fell To 53.7.

London market research firm Markit Economics1 released a report that the 16 euro zone countries in September manufacturing industry The index dropped from 55.1 in August to 53.7, slightly higher than the 53.6 point announced on 23. Another report shows that the euro zone unemployment rate remains high, still at 10.1%, the highest since June 1996.

Europe Economics The two quarter growth was the highest in 4 years, but then gradually cooled. Ireland and Spain are still deeply in debt crisis. In September, manufacturing activity in Germany, the largest economy in the euro zone, also slowed down. Its manufacturing index dropped from 58.2 in August to 55.1 points, the lowest point in January. The French manufacturing index, the second largest economy in the euro area, rose from 55.1 in August to 56.

The Markit report also showed that the number of new orders fell to the lowest level since November 2009 in September, and the total growth rate of orders was also the lowest in 1 years. The European Commission says the high unemployment rate has depressed consumer spending, while eurozone countries are trying to cut their budgets to reduce their deficits. Growth is expected to slow down in the second half of the year.

Data show that global economic growth is slowing down. The Australian manufacturing index fell for the first time in 9 months, while the UK manufacturing index fell to its lowest level in 10 months. According to economists, the US manufacturing index will also fall from 56.3 to 54.5.

London Economic Research Institute World IHS Global Insight economist Howard Archer (Howard Archer) said that the global economy is slowing down, and efforts to reduce deficits are likely to curb domestic demand in some euro zone member states. The economic contraction in Ireland and Spain shows that the economic development of the euro area countries is still very uneven.