The euro area private sector contracted at the fastest pace in almost two years in October signaling that the currency bloc is sliding into a recession, final survey results from S&P Global showed on Friday.
The final composite output index fell to 47.3 in October from 48.1 in September. The score was slightly above the flash 47.1. The latest reading was the lowest since November 2020.
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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.