Fall in euro zone Nov business activity adds to recession expectations -PMI ...Middle East

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Fall in euro zone Nov business activity adds to recession expectations -PMI
A waiter picks up the terrace of the Zurich bar at Placa de Catalunya in Barcelona, Spain April 4, 2023. REUTERS/Nacho Doce/File Photo Acquire Licensing Rights LONDON, Dec 5 (Reuters) – The downturn in euro zone business activity eased last month but still indicates the bloc’s economy will contract again this quarter as the dominant services industry continues to struggle to generate demand, a survey showed. Last quarter the economy contracted 0.1%, according to official data, and Tuesday’s Composite Purchasing Managers’ Index (PMI) for November indicated the 20-country currency union is on track to do so again this quarter, meeting the technical definition of recession. HCOB’s com

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