Separate data release on Monday painted a mixed picture for the euro area, but economists continued to assess that the single currency bloc is sliding into recession, as the European Central Bank prepares for another interest rate hike next week.
The purchasing managers' survey by S&P Global showed that downturn in the euro area private sector extended for a fifth month in a row in November, although the pace of contraction softened due to a slower decline in manufacturing, which masked a sharp deterioration in the dominant services sector.
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by Renju Jaya
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