Euro area manufacturing slowdown worsened in July amid steeper declines in output, new orders and purchases, signaling that the economy is heading into a recession, final survey results from S&P Global showed on Tuesday.
Official data showed that the unemployment rate remained unchanged at a record low in June despite the weak economic activity.
The HCOB final factory Purchasing Managers' Index, or PMI, slid to 42.7 in July, as initially estimated, from 43.4 in June.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.