Is for more austerity so that everyone can shrink
their way to prosperity.
The eurozone's private sector tipped further into decline this month, exacerbating fears that the area is about to lurch back into recession, according to business surveys. The October services PMI fell to 47.2 from 48.8 in September. The manufacturing index also worsened, to 47.3 from 48.5. Both were the lowest readings since July 2009 and worse than economists had expected.
The composite PMI, which combines data from both sectors, dropped to 47.2 from 49.1 in September, also the weakest reading since July 2009. Markit, which compiles the surveys, warned that the worst was yet to come.
