Eurozone business activity hits 27-month low
Business activity in the 13-nations sharing the euro slowed to the lowest level in 27 months driven by weakness in the services sector, according to a survey on Friday.
First results for NTC Research's survey of business leaders fell to 53.8 points in November, down from 54.7 points in October, touching the lowest level since August 2005.
Although the result fell short of a Thomson Financial poll of economists' forecasts for 54.1 percent, it was nevertheless above the 50-point level that indicates expansion.
The service sector output index dropped to 53.7 points in November from 55.8 in October while the manufacturing index rebounded to 53.9 from 52.6 in October.
Economists said that the index added to the growing body of evidence that the eurozone economy is increasingly struggling to cope with a rising number of headwinds.
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