The euro area is on a path for another economic contraction, as key indicators for the eurozone economy plunged to a six-month low in November, amid renewed government efforts to contain the spread of Covid-19.
According to the latest survey by the research firm IHS Markit, both the flash eurozone composite output and services activity purchasing managers’ indices (PMIs) hit their lowest levels since May. The former sank to 45.1 in November from 50.0 seen in October, while the latter plunged to 41.3 from 46.9.
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