Eurozone stocks strong but PMI indicates gloomy outlook

<p>The eurozone stock markets are strong, but Markit data points to a disappointing outlook for the region.</p>

The main eurozone stock indices are strong in trading this morning (November 22nd) – however – one closely-watched purchasing managers' index (PMI) shows that there may be choppy waters ahead for the single currency region.

According to Markit's latest PMI, the 17-state economy is not about to change in any significant way in the coming months and the bloc is on course for its weakest quarter since the 2009 crash, Reuters reports.

A flash services sector PMI by Markit slumped to 45.7 for November and is the lowest reading since July 2009, which fails to meet the expectations of economists who thought it would hold at October's 46.0 reading.

Chief economist at Markit Chris Williamson said: "The concern about the outlook is getting worse as we move towards the end of the year."

At 09:35 GMT today, the Dax in Frankfurt made 0.7 per cent gains to an index value of 7237.8 points, while the Cac 40 in Paris rose by 0.4 per cent to 3491.6 points.

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