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Renewed fall in Eurozone business activity as services joins manufacturing in contraction
Eurozone business activity moved back into contraction in November, according to provisional PMI® survey data, the second time in three months in which this has been the case. Meanwhile, confidence in the outlook for output dropped to the lowest for just over a year. Companies continued to face challenges securing new orders, which decreased for the sixth month running and at a solid pace. With new business and backlogs of work falling, firms also scaled back workforce numbers, albeit only marginally. Meanwhile, rates of inflation of input costs and output prices ticked up from October, but in both cases were weaker ... (full story)