Driven by the deepening downturn in both services and manufacturing activity, the euro area private sector shrank for the fifth month in a row in October with output falling the most over a decade if the pandemic period is excluded. The flash composite output index posted 46.5 in October, down from 47.2 in September, the purchasing managers' survey data from S&P Global and Hamburg Commercial Bank AG showed on Tuesday.
Excluding the pandemic months, private sector activity shrunk the most since March 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.