The euro area private sector contracted in April as geopolitical tensions in the Middle East deepened the economic woes, flash survey results from S&P Global revealed Thursday.
The composite output index fell to a 17-month low of 48.6 in April from 50.7 in March. The index fell below the 50.0 no change mark for the first time in 16 months in April.
The fall in output was centered on the service sector as the activity shrank for the first time in almost a year and at the steepest pace since February 2021.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.