A key indicator of economic growth has eased fears the eurozone is heading for another troubling period in the final quarter of this year.
The latest composite purchasing managers’ index (PMI) survey from Markit has indicated the single currency region has expanded so far in December.
The PMI data, which collects its figures from monthly surveys of private sector companies, gave a reading of 51.7 so far in December.
The reading was higher than the 16-month low of 51.1 seen in November but was still very low by historical standards.
But given that any reading above 50 indicates the economy expanded, the slight upturn in economic activity could allay fears the eurozone was sliding towards a recession.
Both the services and manufacturing sectors saw faster growth than in November, with the manufacturing sector rebounding from being close to contraction, at 50.1, last month.
