Our website use cookies to improve and personalize your experience and to display advertisements(if any). Our website may also include cookies from third parties like Google Adsense, Google Analytics, Youtube. By using the website, you consent to the use of cookies. We have updated our Privacy Policy. Please click on the button to check our Privacy Policy.

Euro zone business growth grinds to a halt as services struggle

Reading Time: < 1 minute

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

%d bloggers like this: