Euro area private sector activity registered its biggest fall since November 2020 as the downturn spread from manufacturing to services, flash survey results from S&P Global and Hamburg Commercial Bank revealed on Wednesday.
The flash composite output index declined to a 33-month low of 47.0 in August from 48.6 in July, the purchasing managers' survey showed. If pandemic months are excluded, the latest score was the lowest since April 2013.
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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.