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  • economic activity in the eurozone fell more sharply than previously thought at the end of 2020.

  • That's according to the S markets final December Purchasing Managers Index, a closely watched gauge headline composite figure did rise to 49.1, but that was well below an initial reading of 49.8 and anything less than 50 indicates contraction.

  • In European powerhouse Germany, services declined for a third month, while Italy performed far worse than predicted.

  • One plus waas France, though, with business activity there almost returning to growth.

  • With infection rates soaring across Europe and countries imposing fresh lockdowns, the services sector faces another hard time in the near future.

  • Economists are optimistic about the coming year, however.

  • The future output index rose to 64.5 from 60.4, its highest reading since April 2018.

economic activity in the eurozone fell more sharply than previously thought at the end of 2020.

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B1 contraction index activity reading december composite

Euro zone contraction deeper than thought in December

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    林宜悉 posted on 2021/01/07
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