Euro zone business activity shrinks to six month low after new coronavirus lockdowns

The Champs-Elysees Avenue and the Arc de Triomphe are seen after the Christmas illuminations had been switched on in Paris, France, Nov. 22, 2020.

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LONDON — Economic activity within the euro zone sank as soon as once more in November after governments launched new lockdowns and social restrictions to include additional spreading of the coronavirus.

However, information {that a} Covid-19 vaccine may quickly be prepared for distribution has made companies extra assured about returning to their regular activity ranges within the subsequent 12 months.

The flash euro zone PMI composite output index, which appears to be like at activity in each manufacturing and companies sectors, got here in at 45.1 in November — the bottom studying in six months.

A studying beneath 50 represents a contraction in business activity.

This is a breaking information story and it’s being up to date.

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