Eurozone services activity falls in December led by downturns in Italy and Spain; Germany and France rise
Jan 4th, 2012 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
Business activity in the Eurozone services sector contracted for the fourth straight month in December led by downturns in Italy and Spain. At a three-month high of 48.8, up from 47.5 in November, the final Markit Eurozone Services Business Activity Index was above the earlier flash estimate of 48.3 and signalled an easing in the rate of contraction. However, the average index reading in Q4 2011 was still the lowest since Q2 2009. In contrast, Germany saw growth reach a five-month high, while business activity in France rose slightly following a decline in the previous month.