Separate data release on Monday painted a mixed picture for the euro area, but economists continued to assess that the single currency bloc is sliding into recession, as the European Central Bank prepares for another interest rate hike next week.
The purchasing managers' survey by S&P Global showed that downturn in the euro area private sector extended for a fifth month in a row in November, although the pace of contraction softened due to a slower decline in manufacturing, which masked a sharp deterioration in the dominant services sector.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.