Eurozone companies report slowdown in business momentum 

The automotive sector was among the weakest and this had a knock-on effect on the broader manufacturing sector as overall demand was weak

Concerns over competitiveness, costs, and political developments is causing businesses to scale back investments, according to the survey. 

Eurozone firms have recorded a further slowdown in business momentum but overall economic growth is likely to remain positive as expansion in services offsets a manufacturing recession, a European Central Bank (ECB) survey has found.

The eurozone economy is barely growing as Germany, its biggest economy, could be in recession with the ECB lowering interest rates by 0.25% — for the third time this year — on Thursday in hopes of arresting any further decline.