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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Business News
May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.