Omicron knocks UK and eurozone growth to 11-month lows; banknote maker De La Rue warns on profits – business live

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• UK growth weakened this month after Omicron

Just in: Growth across the eurozone has slowed to its lowest in nearly a year, despite signs of recovery in Germany.

The eurozone's recovery weakened again this month, as restrictions imposed to combat the Omicron variant caused a sharp slowdown at companies in the services sector.

Not only has the alleviating supply crunch helped factories boost production, but cost pressures in manufacturing have also moderated.

Importantly, while the Omicron wave has dented prospects in the service sector, the impact so far looks less severe than prior waves. Meanwhile, perceived prospects have improved among manufacturers, linked to fewer supply shortages adding to the brightening outlook.