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Eurozone Business Activity Shrinks As Fear Creeps Back

·2 min read
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Europe is currently confronting a second wave of the COVID-19 virus and reimposing lockdown measures that strangled its economic growth this year. Germany continued with a steady recovery on the back of its mighty manufacturing sector whose output grew at a rate surpassed only twice in the survey’s nearly 25-year history. In the bloc’s second-largest economy, France, the economic deterioration sped up with Composite PMI falling deeper in contraction territory to 47.3.