LONDON—The economic recovery in the 19-country eurozone lost steam in January, a closely watched survey found Wednesday, a sign that the turmoil in global financial markets is beginning to weigh on business activity.
Financial information company Markit said its purchasing managers’ index — a broad gauge of activity across both the manufacturing and services sectors — fell to a four-month low of 53.6 points in January from 54.3 the previous month.
According to Markit, that means the region has started off the year growing at a modest 0.4 percent quarterly tick. Rates of growth also diverged, with Spain once again leading the pack, followed by Germany. France appears to be stagnating.
China halted stock trading Thursday, its second day-long trading suspension this week, after prices plunged in the latest spasm of investor panic on its volatile markets.
Chinese markets have lurched up and down as regulators gradually withdraw emergency measures imposed after the main stock index plunged in June following an explosive rise. Continue reading