The Markit IHS survey of manufacturing for Germany fell to a 74-month low of 47.6 in February, approaching levels last seen during the depths of the eurozone debt crisis.
The damage is pervasive and can no longer be blamed on temporary disruption caused by new vehicle standards last Autumn.
Italy saw the worst deterioration since May 2013. The country has no chance of averting a further contraction this quarter after tipping into its third recession in a decade late last year.
Read More.. Source The Telegraph