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Europe Data Points to Contraction but Economy Set to Avoid Worst-Case Scenario
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wsj.comEurope’s economy likely contracted at the end of 2022 but showed signs of resilience, suggesting the downturn could be milder than feared just a few months ago, business surveys released Friday showed.
While S&P Global’s composite output index for the eurozone—which includes services and manufacturing activity—remained below the 50 mark in December, indicating a contraction, it rose by one point to 48.8 from November, pointing to a smaller fall in activity than expected earlier.
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