LONDON – A closely-watched survey suggests that the recovery in the 19-country eurozone economy has slowed and remains hugely dependent on its powerhouse economy, Germany.
Financial information company Markit said Wednesday that its monthly purchasing managers' index — a broad gauge of business activity — fell to 53.9 points in September from 54.3 the previous month. Anything above 50 indicates expansion.
Markit says its survey points to third-quarter economic growth of 0.4 percent, unchanged from the rate in the previous three-month period.
Chris Williamson, Markit's chief economist, said there's a "worrying failure of growth to accelerate to a pace sufficient to generate either higher inflation or strong job creation."
Some economists are also worrying about the impact on German growth from the current crisis gripping carmaker Volkswagen AG.