Posted 11/23/2023, 12:33:58 AM
Euro Zone Economy Continues to Contract in November, Though at Slower Pace
- Euro zone business activity fell again in November, indicating another economic contraction this quarter as consumers limit spending
- The downturn eased somewhat from October, but PMI remains below 50, showing contraction
- Germany and France saw some improvement, but still in contraction territory
- Demand keeps falling, now for 5 straight months, leading to cuts in purchasing and employment
- Outside the euro zone, Britain saw marginal return to growth after 3 months of declines