The euro area private sector contracted sharply in May, but improved from April as lockdown restrictions implemented to prevent the spread of coronavirus loosened in many economies, survey results from IHS Markit showed on Wednesday. The final composite output index rose to 31.9 in May from April's record low of 13.6. The score was above the flash reading of 30.5.A score below 50 indicates contrac...
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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.