The 20-country bloc’s economy has suffered its worst month since the pandemic The Eurozone economy contracted at the fastest pace in nearly three years in October as demand across the single currency union deteriorates, according to a new report by S&P Global released on Monday. The purchasing managers’ index (PMI) of business activity dropped to 46.5 last month, down from 47.2 in September, signaling a significant and accelerating contraction in output. October marked the fifth month in a row in which the index came in below the critical 50 threshold that separates expansion from contraction. Also pointing to a
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