The euro area private sector business activity contracted at the sharpest pace since January 2021 as output in both manufacturing and services sectors declined at faster rates amid high inflation, rising economic uncertainty and weakening demand, final survey results from S&P Global showed on Wednesday.
The final composite output index fell to a 20-month low of 48.1 in September from 48.9 in the previous month. The index has remained below the crucial 50.0 mark for the third straight month and was also below the flash 48.2.
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by Renju Jaya
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