Eurozone Manufacturing Weak in July

Revelation 6:5-6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"

<blockquote>“Against all odds, the frameworks of the world’s economic, political, and social systems are being shaken and are beginning to crumble.”
<p style="text-align: right;">-Jim Bakker in “Prosperity and the Coming Apocalypse”</p>
</blockquote>
 

Europe’s manufacturing saw the 11th consecutive month of contraction in July. Despite an increase of .1 in the index from 46.4 to 46.5, the overall amount is still below the 50 level that indicates no growth.

The services sector rose to 47.9 in July, an .8 increase from June but all sectors reported lower levels of output in the month.

Markit said their index shows the volume of new work taken on by manufacturers and service companies declined at a much sharper rate than expected. The demand of new business showed to be at the slowest pace in three years.

The report lead Eurozone service sector businesses to conclude they do not plan to see any growth in 2012.

Among countries that use the Euro, Slovenia, Latvia and Luxembourg saw the biggest increases in monthly sales. Ireland, UK and Romania saw the largest decreases.