Business activity stagnated across eurozone manufacturers in September, according to market research firm IHS Markit.
After seeing a rebound in July and a little bump in August, “the eurozone’s economic recovery stalled in September, as rising COVID-19 infections led to a renewed downturn of service sector activity across the region,” said Chris Williamson, chief business economist at IHS Markit.
Its flash Eurozone Composite PMI dropped to 50.1 in September, from 51.9 in August, as “rising infection rates and ongoing social distancing measures curbed demand, notably for consumer-facing services,” IHS Markit wrote.
Faster growth of manufacturing, led by Germany, was offset by a renewed downturn in the service sector, which was often linked to resurgent COVID-19 infection rates, IHS Markit reported.
Watch: What is a V-shaped economic recovery?
“The Eurozone recovery has stalled before it even reached