The euro area is slipping into another contraction amid new virus restrictions that are taking a massive toll on parts of the economy. IHS Markit’s composite Purchasing Managers’ Index fell to 45.1 in November from 50 in October, hinting at declining output, according to data published Monday. The drop was led by services, reflecting the closure of bars and restaurants and the loss of business in the hospitality sector. Manufacturing continued to grow, although at a slower pace. The widespread imposition of curbs across the 19-nation bloc means the economy is set to shrink for a third quarter this year. The situation ... (full story)