Economic confidence throughout the eurozone fell once more in July, reaching its lowest level since September 2009, and business confidence also headed lower for the fifth straight month as the eurozone crisis dragged on.
The effects did not leave Asia untouched, weakening the manufacturing industry; in Japan, industrial output dropped and in South Korea, manufacturers' confidence hit a three-year low.
Bloomberg reported Monday that the European Commission (EC) said an index of executive and consumer sentiment in the eurozone fell from June's level of 89.9 to 87.9, the lowest it has been in almost three years. Economists polled by Bloomberg had expected less of a decline, predicting a median fall to 88.9.
