Eurozone business growth slows as virus rise crimps demand

  • 📰 ABSCBNNews
  • ⏱ Reading Time:
  • 17 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 10%
  • Publisher: 83%

Business News News

Business Business Latest News,Business Business Headlines

BRUSSELS - Eurozone economic activity slowed in August as a new rise in cases of the coronavirus in parts of Europe blunted a recovery, IHS Markit said Friday.

The firm's closely-watched PMI index fell to 51.6 points from 54.9 points in July but was still above the key 50 points level which indicates growth.

"The recovery was undermined by signs of rising virus cases in various parts of the euro area, with renewed restrictions impacting the service sector in particular," he added. France, however, failed to replicate the strong rebound of the previous month with only a modest rise in new orders for companies.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 5. in BUSÄ°NESS

Business Business Latest News, Business Business Headlines