The eurozone’s economic recovery faltered in December as the resurgence of Covid-19 infections affected the bloc’s service sector growth, IHS Markit research showed. If more tougher restrictions are adopted, economy could weaken further.
The Composite IHS Markit Purchasing Managers Index (PMI) tumbled to 53.3 in December from 55.4 in November, a low since March.
While the final reading came in below the preliminary 53.4, it remained above the 50 mark that separates growth from contraction.
“The accelerated expansion of production we saw in November unfortunately turned out to be brief. The spread of the Ômicron variant has had a particularly profound impact on the services sector, reflecting hesitancy among customers,” said Joe Hayes, senior economist at IHS Markit.
The services sector PMI retreated to an eight-month low of 53.1 from 55.9 in November, down from a preliminary of 53.3.
Reference: CNN Brasil
I am Sophia william, author of World Stock Market. I have a degree in journalism from the University of Missouri and I have worked as a reporter for several news websites. I have a passion for writing and informing people about the latest news and events happening in the world. I strive to be accurate and unbiased in my reporting, and I hope to provide readers with valuable information that they can use to make informed decisions.
