Eurozone recession more likely as business activity slows – Bloomberg ...News

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Eurozone recession more likely as business activity slows – Bloomberg
Companies are slashing manufacturing due to inflation from rising energy costs European private-sector activity in the Eurozone took another hit in October as the Purchasing Managers’ Index, compiled by S&P Global, slumped to its lowest level since April 2013, excluding pandemic lockdowns, Bloomberg reported on Monday. The Index fell to 47.1 this month, down from 48.1 in September, which was worse than economists had anticipated. A reading below 50 indicates a contraction. With business activity slowing, fears of a looming recession are mounting across the euro area. The steepest activity losses have been reported

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