Eurozone business growth slows as virus rise crimps demand

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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.

 

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