Eurozone November Services PMI 49.5... Exceeds Forecast

Eurostat, the statistical office of the European Union (EU), announced on the 4th (local time) that the Eurozone's November Services Purchasing Managers' Index (PMI) recorded 49.5, surpassing the forecast of 49.2.

The PMI was below the benchmark of 50, indicating that the economy has entered a contraction phase. Compared to the previous month (51.6), which was above the benchmark, it fell by 2.1 points.