The euro zone economy is on course for its weakest quarter since the dark days of early 2009, according to business surveys that showed companies toiling against shrinking order books in November.
Service sector firms like banks and hotels that comprise the bulk of the economy fared particularly badly this month, and laid off staff at a faster pace. While the monthly rate of decline that manufacturers reported eased far more than economists anticipated, Markit’s latest Purchasing Managers’ Indexes (PMIs) pointed to little change overall for a recession-hit euro zone this month.
looking beyond borders 