Eurozone private sector activity hits lowest point since January, raising concerns over economic decline.

The Eurozone's private sector activity contracted in November, with the composite output index falling to 48.1, its lowest since January. Both services and manufacturing sectors reported declines, with services contracting for the first time in ten months. Business confidence dropped sharply, and companies reduced employment for the fourth consecutive month. Input costs rose to a three-month high. France and Germany, the largest Eurozone economies, experienced particularly sharp contractions. The data suggests the European Central Bank may cut interest rates further in December.

November 22, 2024
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