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Mumbai,04 Dec 2024 (Commoditiescontrol):Eurozone business activity declined sharply in November, with the services sector contracting for the first time since January, according to S&P Global's PMI data.
The HCOB composite PMI fell to 48.3 from 50.0 in October, signaling contraction. The services PMI dropped to 49.5 from 51.6, reflecting weakened demand as the composite new business index hit a 2023 low of 46.8.
Despite the slowdown, services firms increased hiring, with the employment index rising to 51.0. Economists warn the broad-based decline across major economies threatens growth prospects.
(By Commoditiescontrol Bureau: 09820130172)
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