the eurozones economic growth accelerated slightly in november compared with the previous month but persistent supply bottlenecks and rising covid19 cases clouded the nearterm outlook according to a survey of purchasing managers the flash reading for the eurozone composite output index increased to 558 in november from 542 in october a twomonth high data from ihs markit released tuesday showed economists polled by the wall street journal expected the pmi to decline to 532 the index is based on data from the firms pmi surveys for manufacturing and service sectors any number above 50 indicates growth while a level below 50 signals contraction a stronger expansion of business activity in november defied economists expectations of a slowdown but is unlikely to prevent the eurozone from suffering slower growth in the fourth quarter especially as rising virus cases look set to cause renewed disruptions to the economy in december ihs markits chief business economist chris williamson said by sector services outperformed manufacturing for a third straight month the goodsproducing sector remained crippled by supply delays while services providers saw an improved performance that could prove shortlived if new covid19 restrictions need to be imposed mr williamson said the survey was carried out between nov 10 and 19 so it is likely that the results didnt fully capture the effect of new covid19 restrictions being imposed in some countries still optimism among the respondents fell to a 10month low on renewed covid19 concerns the report said