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LONDON (Thomson Financial) - Euro zone services and manufacturing activity contracted sharply in July, sources said of a key survey.
The euro zone Purchasing Managers Index for services slipped to a five year low of 48.3 in July from 49.1 in June.
Euro zone manufacturing activity also slumped, falling to 47.5 from 49.2 in June.
Both figures were below expectations.
Figures under 50 mark that activity is shrinking.
The declines in both the services and manufacturing sectors took the Composite index down to 47.8, its lowest since November 2001. sivakumar.sithraputhran@thomsonreuters.com ss/ss/lam COPYRIGHT Copyright Thomson Financial News Limited 2008. All rights reserved. The copying, republication or redistribution of Thomson Financial News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Financial News.
© 2008 AFX News
