Eurozone business activity contracts: Euro tumbles to 2-year lows | Euronews Newsletter Events Search Loader Newsletter Events Search Loader Loader Search

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ADVERTISEMENT Business activity in the eurozone contracted unexpectedly in November, driven by a sharp deterioration in the services sector. The Flash Eurozone Composite Purchasing Managers’ Index (PMI) dropped to 48.1 from the neutral 50.0 recorded in October. This marked the steepest contraction since January and fell short of market expectations for an unchanged reading. Services falter as manufacturing remains in crisis The services sector, a key driver of the eurozone economy, slipped into