The euro area private sector economy contracted the most in nearly three years in August with broad based deterioration across the manufacturing and services sectors, results of the purchasing managers' survey showed.
The HCOB composite output index fell to 46.7 in August from 48.6 in July, final data compiled by S&P Global revealed Tuesday. The initial score was 47.0 for August.
The below-50 score suggested that the private sector shrank for the third consecutive month. Moreover, output decreased at the fastest rate since November 2020.
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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.