Survey shows eurozone recovery slowing further

Nov 21, 2013, 5:36 AM EST
A student wears a cardboard box during a student strike in Madrid, Wednesday, Nov. 20, 2013.
(AP Photo/Andres Kudacki)

LONDON (AP) — Further evidence has emerged to show that the paltry economic recovery in the 17-country eurozone is losing more steam.

Financial information company Markit says Thursday that its purchasing managers' index — a gauge of business activity — has fallen in November to 51.5 points from 51.9 the previous month. The fall was unexpected — most economists had been predicting a modest rise to around 52.

Even though the index remains above the 50 mark that indicates expansion, the surprise decline adds to the recent weight of evidence suggesting that the eurozone recovery from recession is not gaining traction.

The survey also pointed to starkly different conditions across the region, with France again lagging. Germany, by contrast, appears to be gaining ground.