Euro zone August downturn deeper than was thought -PMIs ...Middle East

The decline in euro zone business activity accelerated faster than initially thought last month as the bloc's dominant services industry fell into contraction, according to a survey which suggests the bloc could drop into recession. HCOB's final Composite Purchasing Managers' Index (PMI), compiled by S&P Global and seen as a good barometer of overall economic health, dropped to 46.7 in August from July's 48.6, a low not seen since November 2020.

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