Economy of euro area is growing with the slowest pace in almost four years in November, Bloomberg reports. As a result, there are less and less hopes left for rebound in fourth quarter.

Composite index PMI from IHS Markit fell from 53,1 in October to 52,4 in November. This is lower than level 53 that economists surveyed by Bloomberg expected. In general, growth is still estomated at 0,3% in last quarter of this year.

This data increase concern that recovery in fourth quarter is unlikely as manufacturers in the region suffer from reduction in global demand and trade wars.

PMI for manufacturing fell to 51,5 and for services to 53,1. These are the lowest indicators in more than two years.

Future development indicators, including new orders and expectations, are still at low levels.