Euro Zone’s Private-Sector Contraction Eases on Services
- Composite Purchasing Managers Index rises to 49.5; est. 48.2
- ECB is cutting rates to perk up Europe’s flagging growth
The euro-area’s private sector shrank less than anticipated in December thanks to a bigger-than-expected contribution from the services sector.
S&P Global’s Composite Purchasing Managers’ Index increased to 49.5 from 48.3 the previous month, remaining just below the 50 level that separates growth from contraction. Analysts had estimated the index to be little changed from November.