Brussels, Belgium (AHN) – Downturn in the growth of the eurozone service sector slowed in December, according to a survey.
The closely watched Markit eurozone service purchasing managers’ index (PMI) was 48.8 in December. Although any score under 50 represents a contraction, the December score was up from 46.4 in November.
Markit said the survey still indicates that the danger that the eurozone could slide into another recession still exists.
That is because the quarterly performance for the eurozone economy was the worst since the second quarter of 2009.
Moreover, with orders for goods and services continuing to decline it suggests that companies will cut production and employment, Markit said.
The survey also found a growing gap between eurozone nations with stronger economies, such as Germany and France, and those with weaker economies, such as Spain and Italy.
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