Economic activity in the eurozone sank once again in November after governments introduced new lockdowns and social restrictions to contain further spreading of the coronavirus, CNBC reports. However, news that a coronavirus vaccine might soon be ready for distribution has made businesses more confident about returning to their normal activity levels in the next 12 months. A reading below 50 represents a contraction in business activity. Amid a second wave of coronavirus cases in the fall, many European nations tightened social restrictions in October, which has dented their economies once again. The economic shock was once again felt mostly in the services sector with non-essential shops closed, restrictions on movement and curfews.

Source: The Standard November 23, 2020 14:26 UTC