The Markit's Eurozone Manufacturing Purchasing Managers' Index (PMI) has remained unchanged at 45.1 in June, indicating a contracting business activity in the region ht by the prolonged debt crisis.

The rating is above the preliminary reading of 44.8 and but remains at its lowest level since June 2009.

Experts say that a reading above the mark of 50 indicates expansion of the industry while that below 50 shows contraction.

The results from the survey show that the industries in France and Germany are feeling the effects of a overall slowdown in the Eurozone. The survey's employment index fell to 46.7 in June from from 47.1 in the previous month, indicating a faster job cuts in the region.

Chris Williamson, chief economist at data provider Markit said, "Companies are clearly preparing for worse to come, cutting back on both staff numbers and stocks of raw materials at the fastest rates for two-and-a-half years." He also said that the PMI shows that goods-producing sector contracted by 1 per cent during the second quarter with steeper fall expected in the second part of the year.

The results come soon after a key summit by leaders in the region, in which they reached on an important agreement aimed at stabilizing the region's banking sector amid serious concerns expressed by analysts and investors about the prospects of European banks.

The agreement has brought cheers among the investors from around the world and the U. S. stocks surged on Friday to close higher on the good news from Europe. It is believed that the European leaders have moved a step closer in solving the region's prolonged long debt crisis.