Business activity in the euro area slowed more than expected in December, dragging down by a private-sector downturn in Germany. S&P Global’s Composite Purchasing Managers’ Index showed the euro zone slipping from 52.8 in November to 51.9, nearing the threshold for contraction. Meanwhile French manufacturing data surprised analysts by recording the strongest growth in more than three years.
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Business activity in the euro area slowed more than expected in December, dragging down by a private-sector downturn in Germany. S&P Global’s Composite Purchasing Managers’ Index showed the euro zone slipping from 52.8 in November to 51.9, nearing the threshold for contraction. Meanwhile French manufacturing data surprised analysts by recording the strongest growth in more than three years.