LONDON—Eurozone economic growth lost more momentum in January as the bloc’s dominant services industry suffered from subdued demand amid tighter restrictions to contain the Omicron coronavirus variant, a survey showed. Some governments in the currency union have been encouraging citizens to stay at home to try and stop the more virulent variant from spreading while steep price rises, caused in part by supply and labor issues, have also kept demand in check. IHS Markit’s final Composite Purchasing Managers’ Index, seen as a good guide to overall economic health, dropped to 52.3 in January from 53.3 in December, its lowest since February last year and just below the 52.4 preliminary estimate. “The [eurozone] economy has slowed further in January after seeing growth weaken in the final quarter of 2021,” said Chris Williamson, chief business economist at IHS Markit. “The slowdown coincides with virus-fighting containment measures having been tightened to the highest …
Eurozone Business Growth Lost More Momentum in January as Omicron Hit Demand
February 3, 2022
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