Growth of Eurozone's private sector business activity moderated for a second month running in November, flash results of a survey by Markit Economics revealed Thursday.

The composite output index, that measures business activity across both manufacturing and service sectors, fell to a three-month low of 51.5 in November from 51.9 in October.

Economists had forecast an increase to 52. Though the index remained above the 50 no-change level for a fifth successive month in November, the reading signaled a modest easing in the rate of expansion for the second month running, Markit said.

The manufacturing purchasing managers' index, a gauge of the region's factory sector performance, increased to a 29-month high of 51.5 from 51.3 in October. The outcome was in line with expectations.

The services activity index, on the other hand, fell to a three-month low of 50.9 in November from 51.6 in October. The consensus was for a marginal increase to 51.9.