Service Sector, Global Economy | featured news

The vast U.S. services sector expanded against last month, extending a three-year run of growth, while European business optimism hit an eight-month high, suggesting the euro zone economy was starting to recover.

The euro zone's economic woes accelerated last month and China's slowdown looked likely to extend to a seventh quarter, surveys on Wednesday showed, while the United States proved the bright spot with better-than-expected news on services and jobs.

China's services sector cooled in November to its weakest growth in three months, an HSBC purchasing managers' index showed on Monday, the latest data portraying an economy slowing quickly and in need of policy support.