AnalysisEconomy / FinanceEurope

Eurozone Likely In Recession, Purchasing Managers’ Index Surveys Show

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The downturn in eurozone business activity surprisingly deepened in December, according to closely watched surveys which indicated the bloc’s economy is almost certainly in recession. It was a broad-based decline with activity deteriorating in both Germany and France and across services and manufacturing, the surveys showed. Last quarter, the eurozone economy contracted 0.1%, official data has shown, and December’s Purchasing Managers’ Index (PMI) – seen as a good gauge of economic health – suggested activity has now declined in every month of this quarter. That would mark two consecutive quarters of economic contraction, meeting the technical definition of recession. The…

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