Euro zone business growth almost ground to a halt this month as activity in the bloc’s dominant services industry increased at a much weaker pace than expected and among manufacturers it contracted again, a survey showed on Friday.
IHS Markit’s flash composite Purchasing Managers’ Index, seen as a reliable guide to economic health, was 50.3, down from October’s 50.6 and moving towards the 50 mark separating growth from contraction.
Also probably of concern for policymakers, services firms likewise filled old orders faster than new ones came in and curtailed hiring, suggesting there won’t be a turnaround anytime soon.
Via Reuters
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