The euro-area economy risks a renewed slowdown.
A Purchasing Managers Index for factories and services activity unexpectedly fell to 51.4 in November, the lowest in 16 months, from 52.1 in October, London-based Markit Economics said today. A reading above 50 indicates expansion. A German measure also declined, and a separate report showed weakness in China, where a factory gauge dropped to a six-month low.
While unprecedented stimulus by the European Central Bank will start to take effect in coming months, weak growth in Germany and France and rising tensions in Ukraine threaten the euro area’s modest revival. The 18-nation economy expanded 0.2 percent in the third quarter.
Bloomberg
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