The rate of contraction in the eurozone economy eased slightly in November, according to a closely-watched survey.

But the region is still in line for another quarter of recession with further contraction likely in early 2013, according to Markit, who produced the survey.

Its Eurozone Composite Purchasing Managers' Index (PMI), which measures business activity, rose to 46.5 in November from 45.7 the month before.

A score below 50 indicates contraction.