Eurozone business activity picked up last month, but the pick-up could be temporary as demand growth has weakened and fears about the Ômicron variant dampen optimism, the Purchasing Managers Index survey showed on Friday.
O SMEs Composite IHS Markit jumped to 55.4 in November from 54.2 in October, down from the preliminary of 55.8 but still above the 50 mark that separates growth from contraction.
“An improvement in the economic growth rate signaled by the eurozone PMI is likely to be short-lived,” said Chris Williamson, chief economist at IHS Markit.
“Not only has demand growth weakened, but companies’ expectations about future growth have diminished as concerns about the pandemic have intensified again.”
The new business sub-index fell to 54.7 from 55.1, the lowest since April.
The final PMI for the bloc’s services sector rose to 55.9 from 54.6 but was below the preliminary of 56.6.
Reference: CNN Brasil
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