Eurozone business activity slumps – S&P ...News

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Eurozone business activity slumps – S&P
The Purchasing Managers’ Index has plunged to an almost three-year low Business activity in the 19 European countries that use the euro has been contracting faster than anticipated, prompted by a slowdown in the region’s services industry and manufacturing sector, data compiled by S&P Global showed on Tuesday. According to the calculations, the Eurozone’s final composite Purchasing Managers' Index (PMI) plunged to 46.7 in August from July's 48.6. It came in lower than the preliminary estimate, which suggested a decline to 47. An indicator of the overall economic health, a PMI reading over 50 signals growth or expa

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