Eurozone business growth has slowed more than anticipated this month as newer restrictions were imposed to manage the Omicron Covid-19 variant.
- IHS Markit’s Flash Composite Purchasing Managers’ Index sank to 53.4 in December from 55.4 in November, its lowest since March.
- That headline figure was dragged down by the services PMI that plunged to an eight-month low of 53.3 from 55.9.
- Chris Williamson, a chief business economist at IHS Markit, stated that the eurozone economy is struggling with another blow from Covid-19, with surging cases hampering expansion in the service sector.
- Growth in demand for services fell to its lowest since April, with the new business index dropping to 52.6 from 54.2.
- Factories, less affected by Covid-19 restrictions, also suffered slightly, and the manufacturing PMI fell to a 10-month low of 58.0 from November’s 58.4.
The input prices index cooled down to 87.0 from 88.9, and the output prices index posted an even larger fall.
Euro Stoxx 50 up +1.74%, EUR USD up +0.09%Source: IHS Markit.
