Eurozone Recovery Stumbled in January as Omicron Hit Services: PMI

Eurozone Recovery Stumbled in January as Omicron Hit Services: PMI
Customers enjoy a lunch on the terrace of a beach restaurant in Nice as cafes, bars and restaurants reopen after closing down for months amid the coronavirus disease (COVID-19) outbreak in France, on May 19, 2021. Eric Gaillard/Reuters
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LONDON—The eurozone economic recovery weakened this month, despite an upturn in Germany where factories benefited from an easing in supply chain bottlenecks, as renewed restrictions put a dent in the bloc’s dominant services industry, a survey showed.

With the Omicron coronavirus variant sweeping across Europe, governments have been encouraging citizens to stay home and avoid socializing while soaring prices have discouraged consumers from spending.