(IHS Markit) Eurozone posted an acceleration in economic growth, with the Composite Output Index up to 55.4 in November, above 54.2 posted in October.
The higher expansion in the eurozone economy in November happens after three months of slowdowns.
Germany recorded a slow growth, with the euro area’s two largest economies posting weak expansion. Ireland’s growth was the highest at 59.3, followed by Spain and Italy.
Business level among service providers increased, with the activity index at 55.9 in November, compared to 54.6 in October. Services demand was up for the seventh month, but one of the weakest in the period.
Job creation rose strongly as firms rushed to boost capacities and tackle the challenge of backlogs. Employment among service firms was the third quickest in more than 14 years.
Cost pressures intensified, with input prices and output charges rising to new records. Backlogs were up for the ninth straight month.
Business confidence plunged to a ten-month low with the new coronavirus variant dampening outlook.
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